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When a family business is involved in a divorce, the financial stakes can be high for both the owner and the spouse.

At Abdelhadi & Associates, PC, our lawyers are here to help you protect your interest in a business during a divorce. From our law office in Dallas, we represent business owners and their spouses throughout the Dallas-Fort Worth metroplex. Call 469-249-9835 to discuss your case with a lawyer at our firm.

When Is A Business Community Property?

A business that is started during a marriage is community property in Texas and is subject to division. It does matter who operates the business or who is listed as the owner. However, if you invested separate property assets in the business, you would be entitled to reimbursement for that investment.

If you owned a business prior to your marriage, it remains your separate property. However, your spouse may be entitled to a share of the business if:

  • You or your spouse invested marital funds to the business
  • Your spouse contributed toward the success of the business during your marriage

How Are Businesses Divided?

The first step in dividing a business is obtaining an accurate valuation. We use forensic accountants and business valuation experts to ensure the business is fairly valued.

It is usually in the best interests of both parties to ensure that the business continues to operate after the divorce. There are many ways to ensure a spouse receives fair payment for his or her contributions to a family business:

  • Award the nonowner spouse a greater share of other community assets
  • Award the nonowner spouse a share of the profits of a business
  • Pay an equivalent amount of alimony to the nonowner spouse

For More Information About Division Of A Business In Divorce

To talk with an attorney about your interest in a family business, call 469-249-9835 or complete our contact form.