High Net Worth Divorce Attorney in Houston, Texas
What advice do you have for the owner of a closely held business who is thinking about or going through a divorce?
What advice do you have for the owner of a closely held business who is thinking about or going through a divorce?
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00:04
i would say
00:05
if you’re you have a closely held
00:08
business
00:09
and you’re thinking about going through
00:10
a divorce that an owner of a business
00:13
needs to consider
00:15
how they’re going to manage that
00:17
business
00:18
once the divorce is processed once
00:21
the marriage is over and
00:24
and the parties have separated
00:28
frequently closely held businesses are
00:30
family owned and family operated which
00:32
means both
00:33
parties to that marriage may be involved
00:36
in that business on a day-to-day basis
00:39
some people they can make that work they
00:42
can get
00:42
through the divorce and continue to
00:45
operate
00:46
together to advance the business
00:48
interest
00:50
but for many people it’s not possible
00:53
so if you have a closely held business
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in addition to
00:56
you know just the general financial
00:59
considerations
01:00
it’s very important to consider how
01:03
you’re going to manage that business
01:05
going forward
01:07
once your partner that you’re you’ve
01:09
been married to
01:10
is not involved in that business in
01:13
conjunction with that
01:15
i encourage people to think about
01:16
whether or not
01:18
they are going to take that business
01:20
themselves they’re going to
01:23
have their spouse take over that
01:25
business or they’re going to have to
01:27
liquidate the business at the end as
01:30
part of the division of the assets of
01:32
the marriage
Houston, TX family law attorney Judie Sadler shares her advice for an owner of a closely held business who is thinking about or going through a divorce.
