Austin, Texas divorce law attorney, Tim Whitten gives advice to business owners in divorce cases.
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Oh, I think the thing to realize is, is that you’re not probably going to lose the business. The business will probably continue. It will be something, if it’s a community property asset, and it’s subject to being divided by the court, it will come up in the divorce. There’s just no way around it, but I think you should take comfort knowing that in all likelihood, the business will continue. You will continue to operate the business.
Everybody’s interest, both yours, the other party’s typically, is in that continuing, and so that will probably happen. Now the difficult thing is it’s an asset potentially that may need to be divided, and that’s where it gets uncomfortable. People, one side’s gonna want it to be worth more than the other, but it’s something we can work through, and in most of the cases I’ve been involved in, we’ve settled that issue and people get comfortable with resolving that issue.