Business

[mwdiii]

What is the name of your state?Arizona
We are divorcing in a community property state. We purchased 90% of a business together from her parents, the other 10% was basically gifted to her brother. We set up the arrangement to have her be 51% owner for women business ownership status. Now that we are divorcing, I believe that I should receive 1/2 of our ownership status, which is 90% together and that would leave me 45% of the shares. Is this accurate? This is the only real sticking point for us.

 

[LdiJ]

What is the name of your state?Arizona
We are divorcing in a community property state. We purchased 90% of a business together from her parents, the other 10% was basically gifted to her brother. We set up the arrangement to have her be 51% owner for women business ownership status. Now that we are divorcing, I believe that I should receive 1/2 of our ownership status, which is 90% together and that would leave me 45% of the shares. Is this accurate? This is the only real sticking point for us.

I can see your point if you purchased the business at fair market value. However, if her parents sold it to you at less than FMV as part of her "inheritance", then from a fairness standpoint I wouldn't agree with you. The law probably would however.