Property division is often a highly contested issue in divorce, particularly if significant assets are involved. Trusts, corporations, professional practices and other businesses pose unique and complicated legal issues.
In many cases, one spouse may be the beneficiary of a family trust established generations ago. Both parties may have relied on the trust during the marriage. The difficulty lies in determining whether the property has maintained its separate character or whether it may be treated as marital property subject to equal division.
Trusts may also be subject to provisions of a premarital (prenuptial) agreement or postmarital agreement. In that case, enforcing or challenging the agreement can pose a challenge.
Corporations, Professional Practices and Other Businesses
When business owners face divorce, the stakes are often high. Whether you own a closely held corporation, a professional practice, a sole proprietorship or any other type of business, you will face important questions such as:
- Can the business continue to operate after the divorce?
- Can your business interests be treated as separate property (giving your spouse no claim over them)?
- If the business is shared, can the parties realistically continue to work together after the divorce?
- If the business is dissolved or sold, how will the proceeds be divided?
- Does one spouse have the ability to buy out the other?
An experienced family law attorney can help you answer these questions by carefully examining your circumstances in light of applicable legal standards.
Experience Navigating the Nuances Of High-Stakes Property Issues
For legal guidance in all types of divorce and property division matters, you can turn to Naylor & Naylor, a family law boutique in Fort Worth, Texas. Trusts, corporations and professional practices implicate complex legal considerations, and our attorneys are attuned to those issues and skilled at maneuvering through legal intricacies. Our legal team shares more than a century of experience.
One of the most important aspects of property division is the business valuation. We draw on an extensive network of experts — including accountants, tax advisers, appraisers and other financial professionals — to protect our clients’ rights and interests in property division.
To learn more about how we can help you navigate these issues, contact us at 817-831-6800 or toll-free at 866-283-6782. Our lawyers offer flexible after-hours appointments by request.
*AV Preeminent and BV Distinguished are certification marks of Reed Elsevier Properties Inc., used in accordance with the Martindale-Hubbell certification procedures, standards, and policies. Martindale-Hubbell is the facilitator of a peer review rating process. Ratings reflect the confidential opinions of members of the bar and the judiciary. Martindale-Hubbell ratings fall into two categories: legal ability and general ethical standards.