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Are you selling your business as part of the divorce?

Perhaps you and your spouse opened a business during the marriage. Over the years, the business thrived, but your marriage did not. Now, as you face a divorce, you agreed that selling the business is the best choice for you both.

The question is determining its value. You and your soon-to-be spouse agreed on how to split the proceeds, but you want to make sure you get a good price since you won't be sharing the money together. Instead, each of you only receives a share as part of the divorce. You have a choice of methods for valuing your business depending on your circumstances.

Business contracts could help better protect your company

As you have reached the point in your life when you feel ready to move forward with your long-desired business venture, you likely feel a sense of excitement and accomplishment. Though you may have already gone through many of the business formation steps necessary to get the ball rolling, you could still have much to do in order to get your company off the ground. While you bring more individuals on to help achieve your goals, you may need to more closely consider your business contracts.

Contracts often play an essential role in any company dealings. Without these agreements, you could find yourself in disputes or facing other issues that you did not foresee. With these legal documents in place, however, you may lessen the likelihood of conflict between yourself, business partners, employees or other related parties.

How is child custody determined in Texas?

Every state handles custody cases a bit differently. At the end of the day, though, they all have the same goal in mind, protecting these young individuals and making sure they are in environments that will best help them grow and develop. As every family is unique, no one-size-fits-all approach to child custody will work. That is why Texas offers several custody options and various ways in which to reach custody arrangements.

What are the different custody arrangements available in Texas? How does one go about getting a custody order put in place?

Closing the breach in a business gap

When you and your partners first decided to go into business together, you were likely excited and nervous at the same time. As a business owner, you typically have a lot more obligation and responsibility within your company than you might if you were merely an employee. As you and your partners worked out your business plan, designing a structure, employee base, details regarding production, marketing, sales, payroll, etc., you may have run into several obstacles when differences of opinion arose.

Chances are, you were able to discuss the matters at hand and work through your challenges until that glorious day finally came when you opened your doors to the public. Now that some time has passed (be it several months, years or decades) you may be quite satisfied with the way things are going or you may be facing your most difficult problem yet. Either way, a key factor in continued success is that every business partner fulfills his or her commitments to the company as per your written agreement.

Will my retirement savings still be mine after a Texas divorce?

Divorce changes everything, including your plans for the future. Despite years of hard work, the end of a marriage will almost certainly signal significant changes in your financial situation, including your retirement savings. While retirement is an important consideration in a divorce, it does not necessarily mean that you will have to give up on your closely held hopes and dreams for the future. 

Property division is one of the most emotionally charged issues in a Texas divorce, and it can be difficult to think clearly about the future during such as difficult time. With the help of an attorney, you can better understand how to pursue a strong post-divorce future and hang on to your dreams for retirement.

Parenting together after divorce

Parents know that some of the most difficult issues to navigate during a divorce are those relating to child custody. It is never easy to decide where a child will live and how often parents will get parenting time, even when both parties are amicable and willing to resolve issues without litigation.

In order to minimize the potential impact that a divorce can have on a child, many parents choose a joint custody agreement. With this type of custody plan, parents can share visitation with the children, allowing them to maintain strong relationships and an active role in the lives of their kids, even after a marriage is over. 

Can you be in the same room? Divorce mediation could be for you

Some Texas couples simply cannot sit in the same room together without an argument erupting as they go through the divorce process. They rely on the court to make decisions for them that affect their individual futures. If you and your spouse can sit in the same room together, you might consider using divorce mediation, which allows you to create your own settlement.

You might find yourself more satisfied with the results of the process if you can tailor your settlement to your family's particular needs and desires. In addition, since the two of you made the decisions together, you will more than likely feel more compelled to comply with the terms of the agreement.

Is your non-compete agreement enforceable?

Texas employers have the right to protect their long-term interests by restricting the actions of their employees through non-compete agreements. The intent of a non-compete is to ensure that trade secrets and proprietary information does not leave when employees leave for other opportunities.

Non-competes differ on a case-by-case basis, but whatever type of contract you draft and have employees sign should meet the requirements necessary for enforceability. If your contract is not enforceable, it will not withstand scrutiny in the future, which could lead to legal complications and exposure of your company's secret information.

How do I choose the best type of business entity for me?

Like other Waco entrepreneurs, you made the decision to start your own business. You might discover that making that choice, however grueling, was the easy part. Before you open your door for business, several other decisions require your attention. One of those decisions entails choosing what form your business takes. Failing to understand the importance of this choice could cause you problems in the future and jeopardize the success of your business. The discussion below should help you determine what type of business entity meets your needs.

Texas lawmaker wants to end no-fault divorce

No-fault divorce laws allow couples to end their marriages without having to provide valid reasoning to the court.

That means couples can simply tell the court that the marriage is not working, and they want out, without providing proof of fault such as adultery, cruelty or abandonment.

However, a state representative from Fort Worth said he wants to get rid of no-fault divorce in the state, claiming that doing so would help to make families and marriages stronger, the Houston Chronicle reported last month.

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