Legal Question in Family Law in Arizona
division of business property in divorce
a man owned a business that was worth $100k at the time of the marriage. the business was sold during the marriage for $1.2 million. the paper was held by the sellers and $700k in principal was paid up to the date of the divorce. how should the remaining $500k of principal be divided between the husband and wife given that the business was worth $100K going into the marriage.
the marriage lasted for 20 years.
1 Answer from Attorneys
Re: division of business property in divorce
Any increase in valuation during the marriage as a result of community efforts such as the husband's labor should be considered a community asset in which wife has a 50% interest. Please call 1-800-677-1010 for a $75.00 phone consultation to disucss further.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
