Most
couples in California may be apprehensive about discussing a prenuptial
agreement. It is naturally difficult to consider or discuss a potential
divorce
while in love and excited about an upcoming wedding, starting a family
and all the positive bits about a marriage. Unfortunately, the reality
is that many couples get divorced annually, and it is important to
prepare for such an eventuality.
This is even more important if the two parties in the upcoming marriage are also business partners. When such a marriage develops problems, the emotions associated with marital problems may negatively affect the business. Contentious divorce cases, especially those that attract public attention, may blemish the company's brand and negatively affect customer relations. The situation may even jeopardize the future success of the business.
The potential danger of losing the business may be prevented by negotiating and executing a prenuptial agreement that will protect both parties and the business in the event of a divorce. To avoid disputes at the time of the divorce, the agreement should specify the role each party will play in the business, and clearly define the decision-making powers of each spouse. It may be wise to obtain the services of an appraiser who is knowledgeable in the valuation of businesses.
Source: CNN Money, "Double trouble: When spouses who share a business partners split up", Brandon Southward, April 9, 2014
California Attorney full article:
http://www.sacramentoattorneys.net/blog/2014/04/prenuptial-agreement-essential-when-business-partners-divorce.shtml?utm_source=twitterfeed&utm_medium=twitter
This is even more important if the two parties in the upcoming marriage are also business partners. When such a marriage develops problems, the emotions associated with marital problems may negatively affect the business. Contentious divorce cases, especially those that attract public attention, may blemish the company's brand and negatively affect customer relations. The situation may even jeopardize the future success of the business.
The potential danger of losing the business may be prevented by negotiating and executing a prenuptial agreement that will protect both parties and the business in the event of a divorce. To avoid disputes at the time of the divorce, the agreement should specify the role each party will play in the business, and clearly define the decision-making powers of each spouse. It may be wise to obtain the services of an appraiser who is knowledgeable in the valuation of businesses.
Source: CNN Money, "Double trouble: When spouses who share a business partners split up", Brandon Southward, April 9, 2014
California Attorney full article:
http://www.sacramentoattorneys.net/blog/2014/04/prenuptial-agreement-essential-when-business-partners-divorce.shtml?utm_source=twitterfeed&utm_medium=twitter
