Prenuptial Agreements: Protect Your Family Business

By:Hannibal Whitestone

Imagine this scenario. You have worked very hard to build up a small business for yourself. You are your own boss and your business is running quite successfully. The only thing missing from your life is someone to share it with. You finally meet that special someone and choose to get married. But before you make that step, you start to wonder about this life you have built for yourself. Does she really love me? Is he only after my money? These questions race through your mind. What can you do to make sure that you don’t lose everything you have worked so hard for? The answer lies in prenuptial agreements.

In this day and age, owning a small business is not all that unusual. But the work behind it is just as hard now as it was in the past. And there are also more single people out there especially older people who have had longer to build up assets. There is also an increased amount of people out there who are looking for the quick buck and that, coupled with the higher divorce rate and ease of divorce, can make for a costly marriage.

The best thing that a man, or woman, who has built themselves a successful business prior to meeting the right person can do is have their future spouse sign a prenuptial agreement. These agreements protect the owner of the business against gold diggers and anyone who is confident that their marriage will survive should have no problem signing one. On the other hand, if the person you are about to marry happens to be after you for your money as you so much feared, then they will likely refuse to sign and this will let you know that this “right” person is not so right after all.

Now, imagine, working so many years making a name for yourself and putting aside money for your retirement and then meeting the woman of your dreams. You are swept off your feet and rush off and get married to a woman that you are so deeply in love with. Your marriage is so perfect and you couldn’t ask for anything more. Then several years down the road, she hits you with the request of a divorce. It seems to come out of absolutely nowhere and you are completely heartbroken. You go to court and end up having to fight for the one thing that you have worked hard at. You end up losing half of your money and your business to the woman whom you thought loved you. And she is laughing all the way to the bank. This was in her plan all along. Sacrificing a few years of her life meant nothing to get all that money.

This doesn’t have to happen to you. You can do prenuptial agreements several ways, so consulting an attorney and getting it done the way that is right for you is important. Some prenuptials will allow the spouse to acquire some of the assets earned during the marriage years while others will leave all the assets to the business completely off limits. Make sure that you do your research so that the prenuptial agreement is done properly.

Just because you have spent so many of your years building a successful business does not mean that you have to either spend your life alone or risk losing it all. Trust is a very important thing in a marriage, but there are so many people out there who are good at making you believe something that isn’t true. Everyone always says that it can’t happen to them, but truth is, it can happen to you and is more likely to if you are not prepared.

Digg del.icio.us Blink Stumble Spurl Reddit Netscape Furl

Article keywords: prenuptial agreement, marriage contract, prenuptual agreement, prenup, financial planning

Article Source: http://www.articles2k.com

Hannibal Whitestone makes it easy to find out if a prenuptial agreement makes sense for you. Visit Prenuptial Agreement Info today and get the facts... because you're worth a lot more than you think.

Top Entrepreneurship Articles
1). Stellar Customer Service in 10 Simple Steps By : Debbie LaChusa If you're like me, you've had plenty of experience with BAD customer service. Just think about the last time you had a bad experience with a product or a service. Perhaps the product or service did not live up to the sales pitch. Maybe the company was unresponsive to your calls or emails. Maybe they did not do what they said they were going to do.
2). Pamper Me Please! - Self Care For The Busy Entrepreneur By : Kristie Tamsevicius Why am I doing this? I just feel like I can't focus today! I feel like I'm not enjoying my job like I used to. What's the matter with me? I NEED A BREAK!!!! When you are CEO, head nurse, mommy, head of janitorial services, and chief crafts coordinator, life can leave you a little weary sometimes. As a business owner YOU are your most valuable resource, so it makes sense to take care of yourself! When you start to feel overwhelmed, it's important to know when to slow down and take a break.
3). Top Five Reasons to Establish Business Credit! By : Corporate Credit Concepts Too Many business owners are using their personal credit to finance the launch, expansion or growth of their business. A majority of business owners have no idea what business is or how to establish it. By following a few simple steps any business owner can establishing business credit, therefore, separating their personal credit from their business credit.
4). 6 Secrets to Successful Entrepreneurship By : annalaura brown This article provides some hints on how to be a successful entrepreneur.
5). The Advantages of Owning a Handyman Franchise By : Dorian Many exciting reasons to participate in a handyman franchise business exist. One of the most sought after franchise concepts for a decade has been in the industry of home improvement. These franchise systems are planned specifically to take on common problems that need maintenance around the home. The preceding facts can explain why the home improvement market is growing.
6). Rich Jerk - Are You Absolutely SURE? By : Ryan Parker Do you want to be a millionaire, no a billionaire??!! This hour? This very minute? I'm sure you know the answer to the question. However I'm sorry to break it to you, but its not going to happen in this world we live in. At least not for 99.999% of us. Good. Now we have established that, in order to be a millionaire or indeed a billionaire you need to work, be smart and work some more.
7). What it Takes to Succeed in Business! By : Murad Ali Business if tough in today’s world! Most small businesses go bankrupt or are closed abruptly in the first five years. Over the course of the next five years many of the remainders also “pack up” shop and lock their doors. Why do so many businesses fail? The reasons lie in three main spheres. Those spheres of influence can be labeled personal, customer, and operations.
8). Believe the Hype? - Making Millions Online By : Michael Saunders How much money can you make online? Are there really online millionaires? Of course there are, but is it reasonable to expect that you can be one of them. Don't let the hype surrounding the emergence of opportunities cause you to lose your common sense. Millionaires are made by effectively assessing the needs of a market and having a product or service that addresses those needs.
9). Stop Charging by the Hour and Make More Money as a Creative Professional By : Kirstin Carey One of the biggest challenges with a creative business is getting paid what you are worth. The root of the problem isn't that the client doesn't have the money and it isn't that the client isn't willing to pay you what you are worth. The root of the problem is how you are charging and how you are creating value in the mind of the client. First, you must create a business based on value pricing and not hourly pricing.
10). How Well Do You Know Your Prospects? Take this 10-Point Quiz to Find Out By : Debbie LaChusa It’s crucial to know your prospects if you want to market effectively to them. Take this quick quiz to see how well you know and understand your prospects. If you can't answer these questions, how can you be sure you are connecting with your audience in a relevant and meaningful way? How can you be sure you are reaching them with a compelling message.

New Entrepreneurship Articles
1). The Advantages Of Owning Wholesale And Retail By : David Gass Describes why it is a good idea to combine your wholesale operation with a retail operation.
2). Trying to Save What You Have is a Sure Road to Losing It - Part 2 By : Helmut Flasch We all have heard about the risk-takers, the entrepreneurs, who despite huge hardships, made it big in their career through their courage and tenacity. They are success stories we love to hear and which we draw inspiration from. They work very hard and are willing to take risks to achieve their goals. While others are contented with an average income and career, they strive for the stars.
3). Income Ideas For Your Kids To Start Now By : james lowe If your kids show signs of being an entrepreneur and have a desire to make money, let them run, then guide them
4). How To Avoid Investing Pitfalls By : David Gass This article describes hindrances to the process of investing and how best to avoid them.
5). How To Find Motivated Sellers In The Real Estate Sector By : David Gass Describes how to go about finding and profiting from motivated real estate sellers.
6). Factoring Basics By : Marco Terry Most sales to commercial clients usually carry 30 to 60 day payment terms. This means that as a supplier, you must deliver your products or services now. However, your client has between 30 to 60 days to pay you. This creates a significant challenge for owners of small and midsize businesses. The problem is simple. Your clients want to pay you in 30 to 60 days, but you must pay rent, payroll and your suppliers now.
7). Can any Tom,Dick and Harry Start A Home Business? By : Mary Janet First, my apologies to who ever is offended by the title of this article on home business. Okay back to the question. Can every Tom, Dick and Harry start a home business? I know you may have a different view from mine. But let me first tell you that just like a candle lights up a room, this article was written with the intention of providing some light on home business.
8). Computer Consultant Startup: What's The First Step? By : Joshua Feinberg If you're the typical person who’s considering becoming a computer consultant, then you are probably a LAN administrator, doing some kind of PC support job for big enterprise or maybe even working for a smaller integrator. In this article, you'll learn what you need to do first to realize your goal of becoming a computer consultant. From talking to hundreds of people in this situation right now, the number one thing is that you have to decide that you really want to and really need to do it.
9). Success Factors By : Russell Brunson What is the difference between successful people on non-successful people? Are successful people more intelligent or do they just have better opportunities than non-successful people? I heard Brian Tracy say, "Only Difference between successful people and non successful people is this: "Everybody thinks about what they want, but successful people think about what they want, and HOW to get it!" The most important things is the HOW.
10). Computer Consultant Skills: Can You Be Your Own Boss? By : Joshua Feinberg If you're just getting started, what do you need to know about the business aspects of being their own boss? It really boils down to two very straightforward things. You need to have some basic business skills and knowledge and you need the motivation to become a computer consultant. Motivation You have to really want to become a computer consultant badly.