Austin Business Owner Divorce Lawyer

Business Owner Divorce Attorney in Austin, TX

When an Austin entrepreneur divorces, their business isn’t just divided; it’s often on the line, making it a high-stakes battle for survival. As a result, you need an attorney who understands family law, business law, and the corporate culture in Austin, Texas, to help with your high-stakes divorce. Thankfully, you can hire the Law Office of Ben Carrasco, PLLC, as your Austin business owner divorce lawyer to help protect your interests.

About the Law Office of Ben Carrasco, PLLC – Austin’s Elite Divorce Allies

At the Law Office of Ben Carrasco, PLLC, we understand the unique challenges that high-net-worth cases present. From Westlake Hills to Barton Creek, you need to hire an aggressive, battle-tested trial lawyer. While we may be able to negotiate a fair settlement, we prepare our divorce cases for our entrepreneur and business owner clients as trial-ready from day one. That way, we’re ready to protect your interests from the very start of your case.

We’re here to safeguard your assets. We’re unlike any other firm in the area. When you hire founding attorney Ben Carrasco, you’ll be working directly with him. We are committed to efficiency. We run a lean operation, which translates directly into lower overhead costs for our firm.

Also, Ben Carrasco is Board Certified in Family Law, which means he has unmatched authority on divorce law. He has a law degree from Stanford, one of the nation’s premier law schools. Ben realized a personal connection to and passion for family law after his own parents’ contentious divorce. After seeing them go through the process, he knew he wanted to help Austin locals’ experience with the family court system be less traumatic than his own.

Travis County Elite Divorce Basics

In the United States, approximately 3.8 million family law cases are filed each year. In Austin and across Travis County, our economy boasted approximately 42,837 businesses in 2023. Additionally, the area employed about 736,608 workers.

Austin boasts just under a million residents, and about 42.1 percent of Austin’s population is currently married. Wealth preservation is paramount, especially in our city. Austin boasts 32,700 millionaires and is among the fastest growing hubs for new millionaires. If you need help creating a personalized divorce path as a high-net-worth leader, it’s critical that you call an attorney who has a track record of success with these unique cases.

Personalized Divorce Paths for High-Net-Worth Leaders

Every divorce is different, and your attorney can develop a strategy to protect your assets as you end your Texas union. For high-net-worth leaders, we propose a personalized divorce path focused on confidentiality, control, and strategic wealth preservation.

Hire an attorney with high-net-worth experience and a familiarity with Austin luxury culture. That way, they understand how to preserve your reputation and ensure a sustainable financial future. Reach out to the Law Office of Ben Carrasco, PLLC, to learn about the personalized divorce path we would recommend for you as a high-net-worth Texas leader.

Alternative Dispute Resolution

In Texas,  most divorces are resolved through alternative dispute resolution (“ADR”), which is a more cost effective method for resolving your divorce than going to court and putting your future in the hands of a judge. This method of divorce is widely available and encouraged throughout Texas. In fact, many counties in Texas require parties to participate in ADR before trial.  You can explore whether mediation, collaborative divorce, or private arbitration are options you would like to consider for your divorce.

With any of these options, you can avoid going to court, which, for many divorcing couples, can be a cost-effective and efficient way to divorce. In contrast to going to trial and rolling the dice with a judge, ADR has the benefit of putting you and your spouse in control of the outcome of your case and allows you to adopt a final agreement that is more customized to the needs of your family than you may get with a judge. Contact an attorney to discuss whether alternative dispute resolution would be available in your high-net-worth divorce.

Strategic Asset Management

An attorney can discuss how to value your assets, and they may work with forensic accountants to accurately value your businesses, stock options, intellectual property, offshore assets, and other entrepreneurial ventures. If you’re going through a divorce, it’s critical that you properly characterizeclassify your business assets as either separate or community property. Texas is considered a community property state, but not every business asset is necessarily jointly owned by a couple.

In Texas, the law requires clear and convincing evidence to characterize business ownership as entirely separate property. Detailed financial records and an uncomplicated ownership history can be your lifeline to protect your assets. With your attorney’s assistance, you can build a solid case supported by clear and convincing evidence. When available, you can collect: 

• Prenuptial or postnuptial agreements to explicitly define the business or its assets as separate or community property
• Business formation documents like articles of incorporation, partnership agreements, and/or shareholder agreements
• Bank statements like checking, savings, and/or business account statements from before and during the marriage
• Receipts and purchase records to show whether separate or community funds were used to purchase business property
• Federal and state tax returns for your personal and business taxes
• Financial statements and balance sheets
• Deeds and titles
• Tracing reports
• Expert testimony
• Gift and inheritance records
• General correspondence, like emails and text messages

If you have documentation, it can help avoid the commingling of personal and business finances to claim separate property. Your attorney can explore an asset-based, market-based, or income-based valuation approach, depending on your specific company’s characteristics.

Tax Considerations for High-Asset Divorces

Also, your attorney can ensure you structure any divorce settlements to ensure you are considering tax efficiency. Attorneys are not tax professionals but they can refer you to professionals who can provide guidance and counsel regarding the tax implications of contemplated asset splits.

Tailored Financial Planning

When you work with an experienced lawyer, they can evaluate an appropriate post-divorce strategy. They can update your estate plan to address your post-divorce needs, long-term investment strategies, and wealth preservation strategies.

An attorney can create trusts or Limited Liability Companies (LLCs) to protect assets and the transfer of wealth, when necessary. If you have clearly defined goals, your attorney can preserve your assets, ensure business continuity, and protect your family legacy.

Discretion During Your Divorce

We understand how important it is to keep your business operational during your divorce. Our goal is to minimize disruptions to your company while protecting your corporate reputation.

Your attorney can protect your divorce and ensure discretion. They can prepare confidentiality agreements to keep financial details and settlements private. That way, you can protect your public image, which is an important goal for many high-profile corporate clients. Your lawyer can implement digital security measures to protect sensitive financial data.

Why Hire a High-Net-Worth Lawyer to Protect Your Interests?

For high-net-worth individuals, there’s a lot on the line when going through a divorce. It’s certainly worth it to hire a lawyer who focuses on business owner divorces because they:

• Understand how to value complex assets like closely-held businesses, stock options, or trusts
• Are familiar with navigating intricate financial structures
• Can help ensure proper asset division
• Understand how to build a robust case with forensic experts
• Work with you to prevent catastrophic financial losses and preserve your company’s future post-divorce
• Can develop strategies to shield your business’s core value and operations from your spouse, which may prevent it from becoming marital property to be divided
• Can help you avoid unexpected tax liabilities for you or the business
• Can manage the divorce discreetly for high-profile individuals to protect their reputation and family from public scrutiny, which is often a vital concern for entrepreneurs and public figures

General practitioners who rarely see a high-profile divorce are tripped up by a business owner’s divorce. When you hire someone who focuses on these complex divorces, they understand how to classify separate and marital property, and they can deal with trusts, offshore accounts, and complex investment portfolios. Austin’s elite trust Ben Carrasco for their high-asset business owner divorce matters.

Hire a Business Owner Divorce Lawyer Serving Austin – Connect With the Law Office of Ben Carrasco, PLLC

When you need to hire a business owner divorce lawyer, call the Law Office of Ben Carrasco, PLLC. We help clients with complex valuations, and we understand how to protect your empire and empower Austin’s elite business owners and entrepreneurs.

At our firm, we offer fierce advocacy to secure your financial future post-divorce. For executives and entrepreneurs facing marital dissolution, we offer focused representation. Rest assured, we have the experience you can rely on for your high-net-worth divorce. Whether you live in Tarrytown or Westlake, we should be your first call for reliable protection of your hard-earned assets.

If you’re filing for divorce or responding to divorce papers, give us a call to hear how we can help. We defend your wealth in Austin’s competitive divorce arena and offer business-savvy divorce solutions tailored for Texas’ tycoons. When you’re ready to preserve your legacy, contact us to schedule an initial consultation with a trusted Austin business owner divorce lawyer today.