Divorce Counsel You Can Trust With The Future Of Your Business
Business owners or business executives facing a divorce have a variety of additional challenges to consider. Taking the wrong approach could lead to life-long financial consequences such as loss of financial stability.
At JB Schwartz PLLC, we understand the gravity of divorce involving businesses, business assets or professional practices. That is why our team of divorce attorneys provides sophisticated yet personalized counsel for the people of Dallas County and the surrounding communities.
We assist clients with business divorce matters such as:
- Business valuation
- Business division plans
- Executive stock
- Stock sharing plans
- Retirement accounts
- Misappropriated business assets
- Business fraud
- Commercial real estate
When it comes to the future of your family and your business, you can turn to us.
Valuing Your Business And Defending Your Rights
Having facilitated hundreds of valuations of companies across a variety of industries, our business divorce lawyers understand how to approach your case efficiently. In divorces with complex assets, we work with a roster of trustworthy experts such as forensic accountants and appraisers to arrive at a fair valuation. The three approaches for appraising business value are as follows:
- Fair market value: The price that a buyer would pay for the business in a purchase. Fair market value can include calculated intangible assets, such as goodwill and brand recognition.
- Business income: The value of a business’s future earnings and cash flow after adjusting for liabilities and other factors, such as growth rates.
- Net asset value: Calculating the business’s net assets and subtracting the company’s net liabilities to arrive at the final valuation.
Assessing the value of a business is one of the most complex steps of asset division. Each party knows that they have a great deal to lose – or gain – depending on the method of valuation. In rare instances, one party might try to divert assets or misrepresent the value of the business. The process can become highly contested, requiring deft handling and assertive advocacy from business and divorce attorneys like ours.
Guidance And Protection During The Division Process
In addition to the appraisal, you will need to determine how to divide your business assets with your ex-spouse. As a community property state, Texas courts consider any business assets or income acquired after the marriage community property. Some of the most common methods of dividing business assets in a divorce include:
- Buying out your spouse’s share of assets
- Allowing your spouse to buy you out
- Continuing to operate the business together
- Selling the business and dividing the net profits
We can discuss the implications of every option with you, empowering you to make informed decisions. Our team has in-depth financial literacy, allowing us to give you a reliable financial picture, including tax implications. As renowned litigators, we have the trial experience to back up your rights in court.
Protecting Your Business Operations During Divorce
The pressures of a Texas divorce can pry your attention away from your business and management responsibilities. With a distracted mind, you are at risk of making mistakes that affect customers, employees, vendors and lenders.
An attorney experienced in handling divorce for business owners in Dallas can help you seek early temporary orders. Acting early keeps your company stable, resisting disruptive maneuvers. We have years of experience in handling divorce for business owners in Dallas. Our attorney, JB Schwartz, understands the courtroom strategy and the practical realities of protecting your specific concerns.
Protecting your business starts on day one. Contact JB Schwartz PLLC before your spouse takes action.
Partnership Agreements, Shareholder Agreements And Buy-Sell Provisions
You may be working with partners, shareholders or co-owners in your business. Usually, a divorce can trigger provisions within your existing corporate agreements. Buy-sell agreements often restrict interest transfers to nonowner spouses or mandate a full buyout of the divorcing owner’s stake. Similarly, operating agreements and shareholder covenants frequently restrict nonmember spouses from acquiring voting control, active ownership roles or profit distributions.
With a business law background, attorney JB Schwartz can review your operating agreements and provide tailored feedback on your options. He understands how operational decisions and ownership restructurings directly impact tax liabilities, compliance and post-divorce business value. Your partnership documents may shape your divorce outcome. Let our business owner divorce attorney in Dallas review them first.
Answering Questions Commonly Asked About Divorce And Business
We want to offer more clarity on how divorce affects business operations by answering frequently asked questions.
Can my spouse interfere with my business while our divorce is pending?
Yes, your spouse can interfere with your business during divorce. However, you can restrict their access by requesting temporary injunctions to stop unusual corporate transactions or asset sales.
Does my partnership or shareholder agreement affect how my business is divided in a Texas divorce?
Yes, it can. Your partnership or shareholder agreement can have buy-sell provisions that trigger a forced buyout when a party enters a divorce. This strategy can prevent your spouse from becoming a co-owner. While this is possible, the agreement cannot override Texas’ community property laws. Your ex-spouse may have the right to assert a claim on the increase in value if they exerted uncompensated community labor that contributed to the growth.
Discuss Business And Divorce Today
Your personal life and business assets are too important to leave to just anyone. JB Schwartz PLLC provides the counsel you need. Please schedule your initial consultation today by calling our Dallas office at 214-347-8568 or by using our online contact form.