questions & answers
Question: I brought my company into the marriage. It grew while we were married. Is it considered community property. She did not work for the company
In Arizona, A.R.S. § 25-211 defines community property as:
A. All property acquired by either husband or wife during the marriage is the community property of the husband and wife except for property that is:
1. Acquired by gift, devise or descent.
2. Acquired after service of a petition for dissolution of marriage, legal separation or annulment if the petition results in a decree of dissolution of marriage, legal separation or annulment.
How a business is split can become complicated, therefore you may want to speak with an attorney to find out how case law and statutes apply to your specific situation. If money designated as community property was used in the business in order to expand, operate or to improve the business, than a spouse may be entitled to a portion of the ‘enhanced value’ of the business, whether or not she worked for the company.
You may want to speak with an attorney to get assistance in calculating which portions of the business, if any, may be considered community property.
I brought my company into the marriage. It grew while we were married. Is it considered community property. She did not work for the company
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