Forbes published an article this week titled “Protecting Your Business In a Divorce: Pre-Nuptial Agreement." It is an excellent article, and a reminder that prenuptial agreements are useful for protecting more than just a business. Prenuptial agreements are agreements made between couples who are planning on getting married. Those agreements will state what happens with their money and property if they ever divorce or die. It can dictate how they will purchase things and how they will share debt. It can indicate whether or not spousal support or alimony will be awarded if they divorce. Prenuptial agreements are very common when two people are bringing significant assets of their own into the marriage, or even significant debt. They are also common when people are marrying later in life and they have grown children they want to provide for if they were to pass away. They are common with people who are marrying for the second or third time, or for people who have businesses that they have started or have inherited through the family. They are far more common than they used to be. Lesson: prenuptial agreements can be useful even when there are not business interests at stake.
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