Dividing Stock in a Closely Held Corporation When a married couple who jointly own all stock in a business get a divorce and decide not to continue the business through joint ownership, how can they divide that marital asset? They could simply split the stock between them, but this might have significant adverse tax consequences. Here are some other options: Liquidate the corporation and distribute the proceeds between the spouses, Redeem just one spouse’s stock -- though this might have undesirable tax consequences, Transfer stock to one spouse who then pays alimony to the other, or Divide the business into separate lines or specialties, with each spouse getting one. Our attorneys can help you decide the best course of action for your situation. Contact | Legal Disclaimer