In the state of Texas, children become legally emancipated when they reach the age of majority. If their parents are divorced, the noncustodial parent will no longer have an obligation to pay child support. In some rare cases, however, the child may become legally emancipated before reaching the age of majority.
When Texas couples who started a company decide to get a divorce, it can be difficult to determine what will happen to the business. If the couple did not have a buyout agreement when they founded the company, the business could end up being given to one of the estranged spouses or be sold altogether.