Legal Question in Business Law in Texas

As a Franchise Attorney my congratulations for your contingency thinking here. In any community property state, the usual rule is that property or interests (like the proposed business venture) acquired during the course of the marriage are community property. Unless your friend is using funds that belonged to and have been maintained by him as separate property before the marriage (and this would be very difficult to prove, if anything happens) consider the wife a silent partner entitled to at least 25% (half of her 50% community interest share) of the entire business venture. Although she doesn't necessarily need to sign anything for your business to move forward, contingency planning with this percentage in mind is advisable and should be factored into the documents and agreements. Consult with a good business or franchise attorney in your area for specific advice.

Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.

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