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How can a prenuptial agreement protect a business?

| Feb 18, 2019 | Prenuptial Agreements

Getting married is usually a carefully thought out and planned event. Even if it is a spur of the moment courthouse wedding, spouses think about what it means to be married. For some, this thought comes into play long before the wedding ceremony. And, because of this, spouses may consider what kind of role marital agreements might have. A prenuptial agreement may be a beneficial document to consider prior to a couple’s union.

The thought of divorce before a marriage has even begun is anything but romantic. Although the conversation can be difficult, including a prenuptial agreement in a marriage can help not only obtain useful financial information about an intended spouse, but it can also highlight what safeguards a person might want to include. This is especially true for those who have their own business.

How can a prenup protect a business? Prenups are a source of protection, and if one spouse has significantly has more assets, it is clear that protections are in order. Whether it is a small business or a family business, it is important to details how exactly a person wants the business treated. Much like a divorce impacts all the areas of a marriage, a divorce could reach a business, impacting its ability to remain.

By keeping a business separate from marital property, the longevity of a business is protected. This not only keeps the operation of the business running smoothly, it also ensures that the profits from the business are not up for division.

There are many things to think about when getting married, as it is two lives coming together as one unit. It is important to consider a premarital agreement and how it could benefit you.

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