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Topic

Business Owner Divorce

Valuing, dividing, and analyzing income from closely-held businesses in divorce.

Business Owner Divorce

How is a closely-held business divided in a Utah divorce?

In Utah, a closely-held business is treated as property to the extent it was acquired or grew in value during the marriage. The court determines the business's fair market value, identifies the marital versus separate portions, and divides the marital equity. The business itself is rarely sold. Instead, the operating spouse typically retains the business and buys out the other spouse's share using offsetting assets, a structured payment, or a transfer of other marital property.

Business Owner Divorce

Can my spouse force me to sell my business in a divorce?

In most cases, no. Utah courts rarely order a closely-held business sold because doing so destroys the operating spouse's livelihood and often reduces the sale price. Instead, the court typically awards the business to the operating spouse and orders an offsetting buyout or transfer of other marital assets to the non-operating spouse. However, in limited circumstances, such as when both spouses are co-owners and cannot work together, a sale may be ordered.

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