Palmer & Manuel PLLC
Call Today For A Consultation

When dissolving a marriage also means dissolving a business

When a couple that owns a business together decides to dissolve their marriage, they face a difficult decision over whether their business should be dissolved as well.

The good news is that business owners facing marriage and business dissolution have several options, as we explained at length in an article on our website. 

The most important first step to take is meeting with a divorce lawyer who also has experience in business law. An attorney who is well-versed in family law and business law will likely tell the couple that they have three main options when it comes to their business:

1. The spouses keep the business as is and continue operating the business together in their current roles.

2. One spouse buys out the other spouse’s interest in the business with cash or alimony payments.

3. The spouses sell the business together, split the profits, and then go their separate ways in life and in business.

It is up to the divorcing couple whether they want to continue to operate their business together after their marriage ends, but many people in this situation decide that would not be a viable option, so the second and third choices are most common.

Ultimately, the best choice will depend on the individuals involved, their ability to remain working together and their attachment to their business.

If the divorcing couple decides that business dissolution is the best option, they must be careful to make sure each spouse is getting his or her fair share of the business, which can be a difficult task if the couple never created a business dissolution agreement at the onset.

Even if the divorcing couple plans to stay in business together, it will be necessary to create an exit strategy for if the plan doesn’t work. For all of these reasons, it is essential to work with a family law attorney who also has experience in business law

No Comments

Leave a comment
Comment Information
Email Us For A Response

Contact Us For A Confidential Consultation

Our dedicated team of experienced attorneys bring years of successful litigation and courtroom experience to offer a fresh outlook for all your legal matters. Regardless of the complexity of your situation, our team can provide you with a thorough evaluation of your case and current legal standing. To request additional information regarding our services, please reach out to our offices at your earliest convenience by calling 214-242-6444.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Palmer Lehman Sandberg, PLLC
8350 N. Central Expressway Suite 1111
Dallas, TX 75206

Phone: 214-242-6444
Fax: 214-265-1950
Dallas Law Office Map