My soon-to-be ex and I have both signed off on the divorce decree, and we are now in the final waiting-period limbo before it is officially finalized.
Can I start a business?
I need to incorporate and want to be sure she cannot make any sort of claims on it since we have signed the paperwork and are just waiting out the final step.
As a rule of thumb, the best thing to do in terms of creating a business interest or interest in a new asset is to wait until your divorce is final and the divorce decree is issued.
That being said, if you have entered into a Property or Marital Settlement Agreement that defines both parties’ property rights and interests and covers all possible scenarios and acquisition of future property and a mutual waiver thereto, you may be protected regardless of whether the decree has been issued.
My suggestion would be to take your settlement agreement or divorce order with all terms regarding financial and property rights to an attorney to be sure it covers future acquisition of business interests or assets generally.
If you do not have a settlement agreement that covers the issues described above, you would be best served waiting until your divorce is final before making any significant financial decisions. You should consult with one of our attorneys to see if you are insulated from any claims your wife could raise.
Remember, I am unable to provide you with anything more than divorce tips for men, so please consult a domestic litigation attorney in your area to obtain specific advice as to the laws in Texas and how they impact your potential case.
Mat Camp is a former Lexicon Services Online Editor, who focused on providing a comprehensive look into all aspects of the divorce experience. On MensDivorce.com, he concentrated on issues, such as parenting time, custodial rights, mediation, the division of assets, and so much more.
Mr. Camp used the wealth of experience of Cordell & Cordell attorneys to bring tangible answers to reader questions in Ask a Lawyer articles, as well as offer a step by step process through the divorce experience with Cordell & Cordell Co-Founder and Principal Partner Joseph E. Cordell in Divorce 101: A Guide for Men.
Mr. Camp used thorough research to highlight the challenging reality that those who go through divorce or child custody issues face. He helped foster the continued success of the Men’s Divorce Survival Guide, the Men’s Divorce Podcast, and the Men’s Divorce YouTube series “Attorney Bites.”