Marriage and business certainly have many common characteristics, especially when they are coming to an end. If an entrepreneur is facing a divorce, however, the last thing he or she may want is for the business to get caught up in the division of assets. This could easily mean the demise of an enterprise he or she has labored to build. Nevertheless, without taking precautions, Texas business owners may find themselves facing business valuation and the division of their hard-earned assets during a divorce.
For some people, celebrities are like their own family. Fans follow the news for details about their careers, their wealth and their love lives. The latest headlines regarding a celebrity tell of a seemingly outrageous divorce settlement that may leave many shaking their heads in disbelief. Those in Texas who are going through divorce themselves may even feel some concern about any alimony ruling a court may order for their situation.
The nation’s highest court has spoken. On May 15, the Supreme Court issued a decision in a case that questioned whether courts can require veterans to pay their ex-spouses to make up for retirement benefits that are traded in for disability benefits.
Men and women of Texas who serve proudly in the U.S. Armed Forces often accept that their military service complicates many areas of their lives. Many service members will agree that the part of life most seriously compromised by their military duties is their family life. The stress of deployment, unfamiliar environments, frequent moves and the resulting difficulty of forming lasting relationships all take their tolls on a marriage and family. Military divorce is a sad consequence of this stress.
Most married couples in Texas are not surprised to hear when researchers link divorce with money issues. Struggles or disputes over money have been a primary reason for divorce for generations, and hearing this in newer studies is not a shock. However, as the roles of men and women change in marriages, couples facing a high asset divorce may be interested in the conclusions of the latest research.
A Texas couple going through a divorce already has a lot to deal with. If they have children, custody and support may be primary concerns. Beyond that, the appropriate division of property is essential for both parties to be able to maintain a reasonable standard of living after the divorce. When assets include a business, a new complication arises, particularly if the business is considered community property. In order to decide how the business will affect the division of property, a business valuation will be required.