A prenup is essential for entrepreneurs to safeguard their businesses from being classified as marital property. Spouses may gain rights to certain assets, including the business, without a prenup. This legal agreement enables business owners to determine asset distribution rather than leaving it to state laws. It clarifies ownership and income from the business, preventing income generated during the marriage from being viewed as joint property. Additionally, establishing a prenup alongside a proper business structure can further protect against future claims.
When you get married, your spouse may automatically gain rights to certain assets - including your business - even if they weren't involved in building it.
A prenup allows you to designate your business as separate property, keeping it out of the marital estate and protected in case of divorce.
Without a prenup, state laws determine how your assets are divided if your marriage ends. That includes your business.
A strong prenup can outline not just ownership of your business, but also how income from the business is treated.
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