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The benefits of prenups for entrepreneurs

| Apr 6, 2016 | Family Law |

New Jersey business owners who are considering getting married may wish to give thought to what could become of their valuable assets should their marriage ever end. Although it might seem unlikely, the business itself could benefit from having a prenuptial agreement that carefully outlines which aspects of the company are separate and which are jointly owned.

Divorcing business owners may naturally wish to pay close attention to the amount of personal debt either party possesses. If either spouse incurs debt in order to further the company’s interests in some way, that could be construed to constitute a shared debt for which both spouses are liable. These and other such matters are best arranged in advance with the help of a prenuptial agreement.

There are a number of other ways for a properly constructed prenuptial agreement to aid business owners should they ever divorce. For example, spouses may stipulate which aspects of a business are subject to redistribution at all in order to avoid unnecessary difficulties down the road. By keeping clear business records from before marriage and during the course of it, it may be possible to show that a couple’s business assets remained truly separate for the duration of their union.

As can be seen, having a good prenuptial agreement can be an important part of ensuring a divorce that’s mutually satisfactory for all involved. Family law attorneys will remind their clients who are considering such an agreement, however, that it should be negotiated well in advance of the wedding to avoid an argument down the road that one party was forced to sign it under duress.

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