Are you a small business owner involved in an unhappy marriage? Are you worried that a divorce may affect the ownership of your company?
Our Lewisville family attorneys have received inquiries in the past regarding business assets and how they are affected during the divorce process. Whether you own a retail store or professional practice like a medical, dental or accounting office, a divorce can affect your ability to operate the venture.
Texas is a community property state, meaning assets acquired during the course of a marriage must be divided equally during a divorce. This can have a great impact on a business owner.
Often, Texas business owners settle on the following solutions for ownership during the divorce process:
- Both parties maintain ownership—this can occur when former spouses are able to maintain working relationships
- Selling the business and dividing the profits
- Allowing one spouse to keep the business while offsetting a portion of its value for the ex—this is commonly known as a “buy out”, where one person is given money to dissolve his or her share in a venture.
The best thing you can do if you are a business owner thinking about a divorce is to contact our attorneys, who can provide you with legal expertise about how to move forward with your case.
How a Lewisville Divorce Attorney Can Help a Business Owner
Unfortunately, divorces can be incredibly difficult when business assets are involved. By speaking to our attorneys, you may be able to amicably dissolve a venture or hash out a plan for future ownership. Our attorneys can help you determine what is the fair division of the assets and liabilities of your company.
Our Lewisville divorce attorneys can offer creative solutions if you are at an impasse when it comes to a business ownership situation. We will work hard to address the value, debt, tax obligations and other financial questions surrounding your business during your divorce.
To discuss your case with our attorneys, you can use the contact request form on this page or call the number listed above.
Julian, Crowder & Shuster, P.C. – Lewisville Divorce Attorneys