Many times in a divorce the parties own a business and the worth in the divorce case in disputed. The court must consider the worth in the division of a closely held business. In most cases, the parties to a divorce will agree that one party will be awarded 100 percent of the business, with the right to own, operate, and receive funds from the business. The other spouse will, therefore, receive an appropriate amount of other marital property to ensure a just and right division of marital property.
In less frequent cases, the parties may agree to each maintain a percentage of the business, with one or both parties continuing to operate the business after the divorce. Another option is the sale of a business, with each party receiving a portion of the proceeds.
To determine the best course of action, and to protect your property rights in a divorce, it is critical to retain an attorney with experience determining the value of a closely held business and dividing it properly. At Busby & Associates P.C., our Houston divorce assets attorneys in the Business Valuation In Divorce. We are located in Houston, Texas.
Our attorney will review your business with an eye towards:
•Personal vs. professional goodwill
•Community property vs. separate property issues
•Management and transfer of assets during the divorce process
•Short-term and long-term implications of the asset allocation
To schedule a consultation, call us today at (713) 974-1151 or visit me on the web at busby-lee.com
Michael Busby Jr. is a Divorce, Family Law, & Houston Divorce Lawyer, who practices in Harris County Texas and the counties that surround Harris County, Texas. He has been in practice for over 11 years and has tried over 100 cases. He is familiar with the policy and procedures of the Harris County Texas Divorce Courts. Our office is open until 8:30 p.m. on Wednesdays and Saturday from 9 a.m. to 1 p.m. for working folks.
Michael Busby Jr.
6100 Corporate Dr. Ste 190
Houston, Texas 77036
Visit me on the web at www.busby-lee.com