Business and Divorce Attorney in Houston, Texas
How is a business divided in a Texas divorce?
How is a business divided in a Texas divorce?
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00:04
in texas a business
00:06
is divided in a divorce as part of
00:10
the process of valuing all of the
00:13
couples
00:13
assets and then determining what is a
00:16
what we call a just and right division
00:19
so are the couples going to get 50 50 or
00:21
one’s going to get
00:22
45 the other is going to get 55 and the
00:26
court will look at it
00:27
in that overall context and in terms of
00:31
the business itself the court is going
00:33
to look at whether the business should
00:34
be sold
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whether the business is an ongoing
00:37
concern and
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so there’s more value to the
00:41
to the entity the community property
00:44
entity to allow the
00:45
business to continue to operate and then
00:47
the court will decide if the business is
00:49
going to be allowed to continue to
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operate
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uh or if the parties have elected you
00:54
know said they don’t want to sell it
00:56
they want it to continue the court’s
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going to say well
00:59
one party versus the other party is
01:01
going to get
01:03
this business awarded to them and it’s
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awarded based on the value and then the
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court will try to
01:09
equalize the value for the parties so in
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terms of dividing
01:13
the business they they really look at
01:16
the value of the business and then
01:18
determine uh what is in the best
01:20
interest of the parties and
01:22
to reach a just and right division of
01:24
the assets
Houston, TX family law attorney Judie Sadler explains how a business is divided in a Texas divorce.
