Researchers estimate that among the 22 million small businesses in Texas and across the United States, about 3 million of them are owned by married couples. Jointly owning a small business can definitely add a new wrinkle to a couple's plan to divorce. A couple has several choices for handling the business as an asset, and most of those options require a business valuation to ensure a fair division of property.
Half of the adults we know are most likely divorced. That's a lot of sources for information. And while your nail tech or barber may have some insights into the process, chances are they do not have a fully reliable bank of actual legal information.
Texas couples are probably no longer surprised to hear statistics about high divorce rates in the country. They may even have their own opinions for the reasons why so many marriages end in divorce. With the high population of military families in Texas, many may assume that military divorce rates are even higher than those of the civilian population. A recent study shows this assumption is not far off the mark.
For many Texas spouses, strengthening their marital bond often occurs at the dinner table when they share the details of their days. Those daily experiences allow the spouses a glimpse into the time spent away from each other and provide a certain amount of decompression as the spouses express their feelings about the day's events. However, for those in the military, sharing details of daily events may not be possible, and this void may contribute to the high rate of military divorce.
When business partners go their separate ways, they typically obtain an objective valuation of their interests in the company to ensure each partner receives a fair share of the payout. When dealing with a high asset divorce, a similar valuation may be necessary. In fact, many spouses in Texas may not even realize the full value of their assets, and this could hinder them from receiving what they deserve and need for a comfortable future.