How Are Business Assets Treated in a Divorce?
In this video, Angel Berbarie, a partner at Goranson Bain Ausley, offers her professional guidance on a complex aspect of divorce: the treatment of business assets. With her expertise, Angel clarifies the general rules of property division in Texas, explaining the distinction between community and separate property, especially concerning business interests. She sheds light on the misconception many have about the court's ability to divide business assets directly and one key exception you should know about. Angel also offers invaluable advice on preparing documentation and financial information to support the characterization and valuation of business assets.
CHAPTERS:
00:00:00 - Introduction
00:00:25 - General rules of property division in Texas
00:00:45 - Contribution of separate property assets to the business
00:01:10 - Piercing the corporate veil
00:01:30 - Angel's advice to business owners
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