Willa limited liability company be considered community property?

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Willa limited liability company be considered community property?

I’m thinking about getting married. I am also thinking of starting my own business as a limited liability company. If I get married after I start my company without a prenuptial agreement, will my husband be entitled to anything from my business?

Asked on September 17, 2011 under Family Law, Texas

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Congratulations to you on both fronts!  You are wise to do a little planning where the two new areas of your life will intersect.  The company that you start could be considered an asset for value and distribution in the event of a divorce regardless of when you start it depending on how your spouse is involved.  Let me explain.  One that is begun during a marriage is most likely considered marital property.  One started before has that indicia of being separate because it was started before you were married. But what if your husband helps you in the business - hopefully he is being supportive but that is another issue - or helps you so as to increase its value?  Then he may have an argument for marital property.  Your income from the business is marital property just like his.  I would speak with an attorney about writing up something to do with the business just in case.  Good luck.


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