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Good afternoon. It would be extremely unusual for there not to be a partnership agreement to spell out the agreements of all the partners. If there isn't one...which I am suspicious of...then the PA partnership act is going to control things. Yes, the K-1 would indicate ownership interest. You can, in the course of your divorce, have the court compel the production of documents. And, to ascertain the value of the practice, you can have an appraiser versed in valuing ongoing service businesses to appraise the business. As a partner, your husband has a legal right to all the financial records of the partnership...this will enable the appraiser to make a valid assessment of the fair market value of the business.
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