

How to Protect A Family Business From Divorce With Prenuptial Agreements
When the primary owners of a family business go through a divorce, the implications can be tremendous. Therefore, with so much at stake with a family business, couples who co-own a business should consider a prenuptial agreement (premarital agreement). Such an agreement can identify which property should be considered a spouse’s separate property and which should be counted as marital property, or it can deem that the other spouse will have no interest in the family business under any circumstance.
Furthermore, if one or both spouses have an ownership interest in a larger family business that would be viewed as marital property subject to division in divorce, a prenuptial agreement – and thus subject to property division in a divorce – a prenuptial agreement can give guidance on how it should be divided in the event of divorce, when it can be sold or one spouse bought out, and under what circumstances.
In other words, a prenuptial agreement can help protect the interests of the family business which can become caught in the middle of divorce proceedings, so that the family business does not experience negative ramifications simply because of a pending divorce, such as a rushed sale of the business or, worse, the closing of the business.
Divorce is a complicated and emotional process, and when a family business is involved, the process is substantially more emotional and complicated. Use of prenuptial agreements is one tool to help avoid future pain and problems that might occur in the event of a future divorce. A family law attorney can help you in that regard, for the sake of you, your family and your family business.
For further information or to schedule a consultation with Orange County divorce attorney Gerald Maggio of The Maggio Law Firm, please call (949) 553-0304 or visit www.maggiolawfirm.com. The Maggio Law Firm is an experienced divorce and family law firm serving the Orange County and Riverside areas and neighboring counties, serving clients with legal issues including divorce, legal separation, prenuptial agreements, divorce mediation, and other family law issues.


SHARE
RECOMMENDED
Midlife Divorce Can Be Detrimental To Your Health
There was a study conducted by the Journal of Health and Social Behavior, which did a data analysis involving around nine thousand adults in the age group of 51 to…
Major Life Events that Can Lead to Divorce
There are many stressors and changes that occur throughout life. It’s a natural evolution, and while stressors do not lead to marital problems or divorce, as a rule, they do…















