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Plano Divorce Attorney for Business Owners

If you are a business owner, you may have spent years of effort and made significant financial investments to build a successful company. Your business is a valuable asset, and it may also be your primary source of income. This means that you will want to do everything you can to avoid any issues that could affect your business in a potential divorce. Understanding the ways you can protect your business will help you make sure you will be able to continue to own and operate it in the years to come.

Pre-Divorce Methods of Business Protection

Ideally, you will want to address the ownership of business interests well before divorce becomes an issue. If you own a business before getting married, you may wish to create a prenuptial agreement that will protect your business assets and ensure that you will be able to maintain ownership of the business if your marriage ends. If you start or acquire a business during your marriage, you can create a postnuptial agreement that will detail how ownership of the business will be handled if you get divorced. These agreements can help you avoid a great deal of uncertainty if divorce becomes a possibility while providing you with the reassurance that your business will remain intact, no matter what happens.

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Plano Divorce attorney High AssetsDuring any divorce, issues related to property division can be difficult to resolve. However, these matters can become much more complicated in a high net worth divorce. Spouses who own significant assets, either together or separately, will often need to work with multiple types of experts to gain a full understanding of what they own and determine how to divide these assets properly. During the divorce process, a spouse will need to make sure they are represented by an attorney who understands the unique financial issues they will need to address and who can provide strong representation in legal proceedings.

Dividing High-Value Assets

While all divorcing couples will need to address assets such as financial accounts, vehicles, and physical belongings, couples who have a high net worth may need to address a number of unique types of assets, including:

  • Investments - In addition to the balances of financial accounts, spouses may own multiple other types of financial instruments, such as stocks and bonds. These assets will need to be properly valued, and spouses will need to understand the potential tax consequences that may result from selling or transferring these assets.

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