Joint business - complicating Colorado property division

Property division in Colorado during a divorce can be complicated . In most cases, divorcing couples will make choices about furniture, cars, homes and other tangible assets. However, sometimes property division can be complicated. This is especially true when a couple is forced to divide up a business.

Colorado residents might remember Frank and Jamie McCourt. The couple's high profile divorce received lots of media attention in early 2012. The couple jointly owned the Los Angeles Dodgers baseball team, a fact that complicated property division. During the divorce, Jamie won a settlement of $181 million. Frank claimed his assets amounted to $300 million.

Shortly thereafter, Frank McCourt sold the baseball team for more than $2 billion. Frank maintains that he did not know the value of the team at the time of the divorce. However, Jamie believes her ex-husband committed fraud and will soon have her day in court.

A recent news report suggests that couples should determine the value of the business before the divorce. To do this, it is recommended that couples use an appraiser who has access to company finances and records to help establish a fair market price. After that, each party can choose whether to buy or sell his or her share of the company to the other party, or sell the company and divide the profits.

Most Colorado couples will never face the dynamics, and substantial assets, encompassed in the McCourt divorce. It is important for divorcing business owners to recognize the need for professional guidance as part of the property division process. As such, many couples choose to turn to the support of a legal advocate.

Source:, "Dividing Up the Business in a Divorce?" Loretta Hutchinson, June 7, 2013

No Comments

Leave a comment
Comment Information

Our First Meeting

Learn what happens at our first meeting.

Learn More »

Why You Should Hire An Attorney

Learn about the benefits of hiring an attorney.

Learn More »

Our Client Testimonials

See what our clients say about us.

Read All »

Arrange a consultation with our lawyers to discuss your specific situation. Call 720-541-5873 or fill out our contact form.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Changing the face of divorce.
Contact Us

Littleton Office
13978 W. Bowles Ave. Suite 200
Littleton, CO 80127

Phone: 720-541-5873
Littleton Directions

Craig Office
11 W. Victory Way Unit 205
Craig, CO 81625

Phone: 970-239-4354
Craig Directions

Steamboat Springs Office
465 Anglers Drive
Suite 2D
Steamboat Springs, CO 80487

Phone: 970-628-3795
Steamboat Springs Directions

Grand Junction Office
1003 Main Street
Suite 200
Grand Junction, Colorado 81501

Phone: 970-372-4008
Map & Directions

Aspen Office
600 East Hopkins Avenue
Suite 201
Aspen, CO 81611

Phone: 970-329-2335
Map & Directions