QUESTION

How can I legitimize my home business and place that business within a trust while still protecting it from divorce proceedings?

Asked on Nov 19th, 2016 on Trusts and Estates - Texas
More details to this question:
My primary sources of income are my home business, driving for Uber, and giving guidance to people on how to make money from on demand jobs. I would like to consolidate all of that into a legal business, partially for tax purposes, and put the business into a trust. I also want to make everything business related the property of the business. My main concern is the divorce I am going through right now. Since my wife left I have found another partner and the business we have was her idea. She also manages the business by herself with little help from me as I am busy with other endeavors. I would like to form a legal business out of what she does and place that business in a trust so that my previous partner cannot take what my current partner has worked so hard to build.
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1 ANSWER

Immigration Law Attorney serving Arlington, TX
2 Awards
Because you are still married, everything you earn is presumed to be community property and subject to a just and right division. You should try to get a divorce as soon as possible. There is no effective way to "protect" the community estate at this point. You should get an attorney as soon as you can to sort out everything and help you make decisions as you move forward. What county are you in?
Answered on Nov 23rd, 2016 at 3:41 PM

--- The Overstreet Law Firm 2100 N. Main, Suite 228 Fort Worth, TX 76164 Phone: 817-810-9747 Email: rdolaw@gmail.com https://www.theoverstreetlawfirm.com/

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