Jamie Graham & Associates, PLLC

Can business interests be protected from divorce?

Having a business can open many doors for Texas residents. These company owners may have worked very hard to get to where they are in the business world, and they undoubtedly want nothing to stand in their way or damage their business prospects. However, if an owner finds him or herself going through divorce, business assets could be at risk.

If owners are considering getting married, they may want to do their best to protect their businesses. One way to do so is to create a prenuptial agreement. In these contracts, individuals can agree to terms relating to who has ownership over what property in the event of a divorce. When it comes to addressing the business, owners may want to ensure that their agreements help maintain their companies' best interests.

Additionally, individuals may also want to consider creating a spousal waiver. This document essentially shows that a non-business spouse waives any right to ownership in the company. This will also prevent that spouse from having any input with the company, which could help the business assets remain separate property and solely owned by the company owner.

Divorce can throw many life plans for a loop. If business owners want to take the necessary steps to protect their assets before getting married, they may want to look into these documents further. If Texas residents are already facing divorce and are uncertain whether they adequately protected their business interests, they may wish to discuss their concerns with knowledgeable attorneys to find out more on their options.

Source: njbiz.com, "How to protect your family business from a divorce", Jennifer Millner, Nov. 14, 2017

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At Jamie Graham & Associates, PLLC, we have received a variety of honors and awards for our family law services. Members of our team have been listed as Top Lawyers in San Antonio Scene magazine. We take pride in the number of positive reviews we have received from satisfied clients. On AVVO, a lawyer rating website, we have received an 8.9 rating overall and many positive ratings from clients and colleagues.

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