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Premarital Business Owners and Prenups

By Janet Langjahr

Forty-plus Girlfriend and Boyfriend get engaged to be married. It is the first marriage for both.

Girlfriend owns a business and has an investment portfolio. Boyfriend has significantly less assets than Girlfriend.

Girlfriend’s friends advise her to enter a prenuptial agreement, also known as a prenup, with Boyfriend.

Girlfriend wonders whether her friends are correct and she should have a prenup. Secondarily, she wonders how to broach the subject with Boyfriend.

Where either intended spouse owns a business prior to marriage, they should definitely consider a premarital agreement.

Experience teaches that you can never go wrong planning for and expecting the best … but preparing for the worst. Both from a business standpoint and personally, having a prenuptial agreement just makes good sense for a small business owner.

In the event a marriage doesn’t work out, a prenup will save both spouses money, time and heartache.

Without a prenup, a contentious divorce (sometimes even one that is not so contentious) can paralyze a business, erode its value, and even kill it.

In a nutshell, an antenuptial agreement can mean the difference between an uncontested divorce and a contentious divorce.

If someone must go through a divorce, an uncontested divorce is surely
preferable to a contentious one.

As for broaching the subject, spouses must be able to discuss everything with each other. A prenup is just one of those kinds of things.

Read more in this [MI] Observer and Eccentric article: Prenuptial agreement is always a good idea.

Full post as published by Florida Divorce - Child Custody - Domestic Abuse Law on February 16, 2011 (boomark / email).