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A spouse owns a business in Dallas Texas but how does an attorney handle that in a divorce?

Did you know that businesses with fewer than 500 employees account for over 99% of all employer firms in the U.S.? And, very small businesses with fewer than 20 employees account for half of the country’s nonfarm GDP and have generated 60-80% of the net new jobs over the past decade? For the entrepreneur of … Continue Reading

Divorce in the New Year Protecting Your Business

January is the month of renewal - closing the door on the negativity of the prior year and planning for the challenges of the new year. Many commit to weight loss, exercise, or stopping smoking at the start of a new year as an opportunity to make improvements in their lives. On the other hand, some people use the beginning of a new year to make new personal beginnings, such as ending their marriage.… Continue Reading

Becoming a Partner — Ownership Interest in Divorce

I was asked recently about whether becoming a partner in a professional company creates community or separate property. The Husband worked for a firm prior to marriage and shortly before the marriage was offered a partnership interest in the firm. He and the firm signed the partnership agreement a few months prior to the marriage. After the marriage, he began receiving the benefits of the partnership agreement. Now, he and his wife are headed for divorce and he wonders if she is going to be entitled to part of his partnership interest.… Continue Reading

Divorce and the Small Business Owner

Deborah L. Cohen writes for Reuters about Divorce and the impact on small businesses. Ms. Cohen points out that when small business owners go through a divorce, their attention is distracted from their business, causing financial impact on the business which may already be distressed due to the downturn in the economy.… Continue Reading

Divorce Business Valuation Approach

Calculating the value of a business can be one of the most important parts of a divorce because a closely-held business may be one of the most significant assets of the marital estate. The best approach to such valuation is to hire an independent business appraiser--a CPA with an Accredited in Business Valuation (ABV) credential or a certified professional, like a Certified Business Appraiser (CBA) or someone recognized by the American Society of Appraisers (ASA).… Continue Reading
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