There are many reasons to consider a prenuptial agreement, but if anyone should absolutely not enter into marriage without legal protection, it's a business owner. Depending on a number of factors, your business may be treated as a standard marital asset in the event of your divorce, which could make it exceptionally difficult to keep the business intact though a divorce settlement negotiation.
Prenuptial agreements can be a lifesaver when things don't go as planned in a marriage. They can even help create a stronger marriage that goes the distance by relieving the relationship of many areas of stress. However, these agreements still hold bad social stigma in some circles, and broaching the subject with your partner may be easier said than done.
Former Florida Governor Charlie Crist has filed for divorce from his second wife, telling a Florida newspaper, "I think the world of Carole. She's an amazing person. It just didn't work out for us." The two were a surprising pair who often operated at opposite ends of the political spectrum. Crist was elected to governor as a Republican, while his wife was an outspoken democrat socialite. Despite their political and personal differences, the two anticipate settling their divorce in a straightforward manner using collaborative law.
Protecting your business in a divorce is never a simple matter. In the eyes of the law, a marriage is as much a business relationship itself as a personal one, and can make any further business ventures quite complicated when it comes time to split. Of course, the most effective way to protect as business from a marriage is to create a prenuptial agreement that addresses the issue beforehand. However, for many business owners, the dream doesn't take shape and get off the ground until well after the marriage is underway.
Prenuptial agreements are finally shaking off a long history of poor public opinion, and with good reason. Many couples who marry now recognize that a well-crafted prenuptial agreement can alleviate many of the tensions that tear down a marriage, and ultimately make the relationship stronger and more likely to succeed. It is important, however, to understand that a prenuptial agreement cannot be used for just any purpose. If you are considering creating a such an agreement, it is wise to familiarize yourself with what it cannot legally cover.
For one reason or another, some individuals remain unrelentingly optimistic about the future, even after difficult experiences. While this is an admirable trait, it is one that must be tempered by wisdom. If you are entering into a second (or third, or fourth) marriage, and especially if you have children, it is absolutely vital that you consider creating a prenuptial agreement.
Entering into a marriage is an innately risky proposition. Although no one enters into a marriage already planning for it to fail, over half of all marriages end in divorce. For those who are approaching a marriage, the prospect of what may be suffered if the marriage fails is an enormous source of anxiety. This can be especially true for those who are engaged to an individual who is carrying a large amount of debt. Debt is a funny kind of monster, capable of following a person around for years, even if it was not theirs to begin with. It is not uncommon for a divorce settlement to include one spouse taking on some of the other's debt as part of a settlement, and this can leave one in the aftermath of a divorce carrying their former spouse's debt with them.
Each new generation alters the landscape of public thought in its own way. The emergence of millennials as an influential group has sprung up in one surprising area — prenuptial agreements.
Know for eschewing possessions, millennials have been characterized as a sharing generation. The rooms rented through Airbnb, rides offered through Uber and songs streamed through the cloud attest to a preference of borrowing over owning. According to a PwC survey, 57 percent of millennials have deemed access to be the new form of ownership. It is certain that the founders of WeWork would not have profited without a millennial proclivity towards communal life.
Buying a home is a major milestone in many people's lives; one that is both rewarding and stressful. When it comes time to apply for a mortgage, as most of us have to do, surprising things can affect what a person may or may not qualify to receive. One such factor that is often overlooked is how alimony payments can affect a mortgage.