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.

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