How are Business Assets Handled in a Texas Divorce?

Business Assets In Texas DivorceThe state of Texas is home to a multitude of businesses, both large and small. Businesses are the core of Texas’ great economy. But how does a Texas court handle a business asset should a marriage dissolve?First – Is the business part of the community estate?Texas is a community property state. Only property, including business assets or companies, that were accrued or created during the marriage are subject to a division by a Texas divorce court. If a company or business was created prior to the date of marriage then that asset the spouse’s separate property and is not subject to any sort of division during the divorce proceeding. If the date of creation/inception of the business asset is murky, the spouse claiming it was created prior to marriage will need to provide their legal team with any relevant documents that evidence its date of creation. The burden is on the spouse claiming an asset is separate property to prove to…

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