Scottsdale, AZ Divorce Attorneys for Business Owners

Under Arizona community property laws, businesses created or grown during marriage are subject to equal division between spouses during divorce. Genesis Legal Group's Scottsdale divorce attorneys for business owners provide strategic guidance on business valuation, division options, and operational protection.

Key Takeaways:

• Arizona community property law treats businesses created or grown during marriage as shared assets subject to an equal division.

• Business owners can choose buyouts, co-ownership, selling, or dissolving the company depending on circumstances and financial capability.

• Genesis Legal Group offers 100+ years of combined experience navigating business valuations, tax implications, and strategic divorce planning.

Building a marriage and running a business takes hard work. But when your marriage isn’t working anymore, you shouldn’t have to worry about losing your business, too. At Genesis Legal Group, our seasoned Scottsdale divorce attorneys for business owners understand what’s at stake. 

If it’s important to you, it’s important to us. We know how much work it takes to build a business and keep it running, which is why we take the time to understand your goals before creating a plan that works for you. We’ll help you understand your options and the best path forward. 

Contact us to book your in-depth, confidential consultation today, and let’s get started protecting what you’ve worked so hard to build. 

What Arizona Business Owners Need to Know About Divorce 

As a community property state, Arizona requires equal division of marital assets, meaning a default 50/50 split during divorce.

So, what happens to your business? A business created or grown during the marriage is considered part of the shared assets and is subject to division. Even if you started it before you were married, if the business appreciated in value during the marriage, or your spouse contributed to its growth, it could be considered commingled and subject to division. 

However, you and your spouse still have the option of negotiating or mediating another agreement if an equal 50/50 split isn’t ideal.

Your Options as a Business Owner

If your business is considered community property, you need to have a plan for how to run the business after your divorce, especially if your spouse is a co-owner. Luckily, you have options: 

• Run it together. If you are co-owners and are able to work together peacefully, you may decide to continue running the business as co-owners.  

• Buy out the other spouse. To continue operations without having to work together as co-owners, you can buy out your spouse’s interest, usually by giving up other assets that are of similar value.

• Sell it. If you can’t afford to buy out your spouse, you may decide together to sell the business and split the profits. 

• Dissolve the company. If you can’t agree on what to do with the business, or none of the alternatives are feasible options, the business may be dissolved. 

Our experienced Scottsdale divorce attorneys for business owners will help you review your options and find the best possible solution. 

How Our Scottsdale Divorce Attorneys for Business Owners Help 

You might be overwhelmed with questions, or you’re not sure where to even begin. Your business wasn’t built overnight, but it feels like you have a lot of decisions to make, and fast. Here are a few things our team guides you through: 

Documentation: Organized, detailed records help you establish what is rightfully yours and the true value of any marital property that will be divided. The financial records come in handy when valuing the business and determining the best path forward. We work with you to properly document, draft, and file the necessary legal paperwork to avoid delays or penalties. 

Tax Consequences: Weighing your options means understanding the implications of every decision. We help you understand each path and weigh the costs associated to create an effective, strategic plan. 

Operations: Our team guides you through major business decisions during your divorce, helping you understand what could damage your case and what’s safe. Our goal is to help you continue to run the business while strengthening your case for your best future.

Business Valuation: This can be determined by valuing the business's assets, market value compared to similar businesses, or income generated. The business also has intangible assets that should be considered, such as goodwill which considers the reputation you’ve established. Our Scottsdale divorce attorneys for business owners help you identify the best business valuation method and ensure you have the right team of professionals to help you through. 

Why Choose Genesis Legal Group 

When everything you’ve worked for is on the line, who you have in your corner makes all the difference. Here’s how Genesis Legal Group stands out: 

• 100+ Years of Combined Experience - We have helped many business owners just like you. You can make informed decisions with confidence, knowing you have our experienced legal team on your side. 

• Strategic Representation - We understand how important these decisions are and how they impact your future. You have options, and we create a plan that addresses your goals with the strategies to help you reach them. 

• Compassionate, Honest Guidance - With your financial future on the line, you don’t want to waste time with confusing legal jargon. We explain your options clearly and give you honest advice on the best steps forward. 

With the right legal team by your side, you’ll understand that divorce doesn’t have to be a messy, stressful process. We’ll get to know you, your business, and your goals, and work together to secure your best possible future. 

Contact our trusted Scottsdale divorce attorneys for business owne