How a Texas Divorce Court Will Divide a Business
Often, the spouse not working in the business believes that the business is worth a great deal more than the working spouse thinks. Since there are dozens of ways to value a business, this can turn into a battle of the experts in divorce court.
How businesses are valued when a couple divorces
There are several methods for dividing a business owned jointly by you and your spouse in a Texas divorce. One method is an agreement in which one of you buys out the portion owned by the other spouse. Another method is for payments to be made from the co-owned business to both spouses over a specified period. Although rare, it is also possible for parts of the business to be given to each spouse.
Some spouses may be even able to remain amicable business partners after a divorce. The Texas Probate and Family Court would usually not order you to continue sharing the business without both of you requesting it and showing that you can remain professional with each other.
Learn more about business ownership issues
We have found that couples can do a better job of getting through their divorce if they are educated about the process before it begins. Our website offers a Divorce FAQ section, we have written articles about divorce, and best of all, clients love our free, no-obligation consultation.