Business interests will likely be affected, in one way or another, by a divorce. Texas’ community property laws are complicated, and it is not always clear whether a business interest should be classified as the separate property of one spouse, or the community property of both spouses. If the business is part of the community property that needs to be divided in the divorce process, the value of the business must be obtained prior to determining which of the several options is best for the business.
Business interests can be addressed in several way, and it is essential that you have a competent attorney who is an expert in both the community property laws of the State of Texas and also the implications that those laws have on the characterization of business interests in the divorce process. If you have a business and are facing a divorce, you can contact us to discuss the possible implications that a divorce may have on the business interests.