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Splitting the Family Business

In a divorce, each spouse is entitled to 50 percent of the community assets if the couple resides in a community property state. Dividing impersonal as-sets with a defined value is simple. But a family business is rarely impersonal. It’s not just a job—for most, it’s their life and livelihood.

The value defies the certainty of a “ones and zeros” calculation. The only real certainty is that an appraisal will be costly and disruptive, with an outcome dependent on the appraiser being a “seer” who can divine the future. Read more

This article is inspired and sourced from Kathleen McCarthy’s December 2015 Brief Encounters article, as published in Tucson’s Desert Leaf magazine.

This post is intended to highlight just certain portions of the Arizona Rules of Family Law Procedure. It is not intended to substitute for professional legal advice on your specific case. The McCarthy Law Firm is a family law firm; however please check with your personal family law attorney for advice specific to your case. Or you can contact our office to speak to one of our family law attorneys to discuss how these rules may impact your specific case.

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