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When a business owner is getting divorced

When a person owns a business, many things can have major implications for their business. This includes personal matters. One type of such matter that can have significant business implications for a business owner is a divorce.

For one, what happens in a divorce can impact a person’s financial and emotional state. This could impact their conduct when running the business. So, it can be important for a business owner to be aware of how their divorce is affecting them and how these effects could impact their business. It can also be critical for them to stay away from mistakes in their handling of the divorce which could get in the way of them being a good business owner.

Also, what happens with property division in the divorce could have impacts on their company's very future. When one of the spouses in a divorce is a business owner, what will happen with the business in the divorce can be a central issue when it comes to the division of property. What ends up being decided on this front can impact whether the business owner will realistically be able to keep running their business and keep it in operation.

All kinds of issues, including business valuation, can have big impacts in property division matters regarding a business.

So, when getting a divorce, it can be important for a business owner to have the guidance of an attorney who understands the special property division issues that can come up when it comes to businesses and how high the stakes can be for a business owner and their business in a divorce.

Our Texas firm is knowledgeable in both matters related to family law and matters regarding businesses. We can assist divorcing business owners with the complex and impactful property division matters that can arise when divorcing.

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