By Craig Rozelle:When getting ready for an upcoming marriage the last thing most couples want to talk about is a prenuptial agreement. However, they are extremely important especially if you own a business, getting a “prenup” could save your business that you worked so hard to start. A prenuptial agreement or prenup is a contract between prospective spouses that addresses how the financial aspects between them will be handled in the event of a divorce. The statistics on marriage are not very encouraging, almost half of married couples get divorced. Contested divorces often turn nasty and the soon to be “ex” can go for your assets. With no prenup in place state laws will require that marital property be divided equally, or at least "equitably." Depending on your state, your business could be cut in half if you divorce. You are able to protect your business with a prenup by defining your company as an asset that was acquired before marriage, or a prenup can also state who will run the company post divorce and identify who owns stock in the company and how to fairly value the company. While a prenup is not something that a couple about to get married wants to talk about it is the smart move that all couples should talk about especially if there is a business owner involved.
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