Business Owners and Prenupital Agreements
With the average age of engaged couples going up and many re-marrying later in life, individuals these days bring more assets and experience to their marriage than ever before. While the prospect of starting a new life with their partner is exhilarating, many who look at the bigger picture and take stock of their assets come to the conclusion that a prenuptial agreement is in their best interests. This is especially true for those who own their own business.
In California, assets that each spouse owned before the marriage are considered separate property. However, as time goes on, these assets can be considered shared property under certain circumstances, such as when a business experiences increased growth and value that occurs during the marriage. Although this can be the desired outcome for many, couples that have not hashed these details out might want to outline specific guidelines and agreed upon terms on a prenuptial agreement.
Prenuptials Agreements are for Couples Who Communicate
Some perceive prenuptial agreements as a prelude of sorts to a divorce, but we could not disagree any more. They are simply another tool used by well-prepared individuals who prefer to discuss individual expectations in the open and foster honesty within their union.
Business owners understand that the laws surrounding their business operations and their assets are complex, and their marriage can and will have an impact on these circumstances, which is why many opt to explore their options and look into prenuptial agreements before walking down the aisle. That said, we also recommend that anyone looking to get married in the near future also conduct some research in preparation for the big day.
For all your questions relating to prenuptial agreements, as well as other divorce and family law matters in California, do not hesitate to contact Rubin and Levavi. You can reach us at (415) 564-2776 to speak with a qualified family law attorney today.