The prenuptial agreement is essential if a business is involved

On behalf of Stange Law Firm, PC posted in Family Law on Tuesday, August 15, 2017.

The average Missouri couple now waits until they are older to marry. Up until a few years ago, it was not uncommon for individuals to marry in their early 20s. However, in today’s society, the average marital age is hovering closer to 30. With this in mind, the need for a prenuptial agreement can be critical.

Prior to marriage, many individuals have established careers or businesses. They have made a name for themselves and are beginning to accumulate assets. Some individuals have even ventured out on their own and are beginning to reap the rewards of their hard work and determination.

With this in mind, the decision to marry carries with it a number of potentially negative repercussions. However, in the spirit of love triumphs, individuals who are coming into a marriage with an already established business and financial portfolio have the option to protect themselves via a prenuptial agreement. Such an agreement can address assets and businesses brought into the marriage. In addition, a prenup can address any gains or losses that such a business may incur during the course of the marriage. These factors can be crucial in the event that the couple decides that the marriage is not what they anticipated and a divorce follows.

A prenuptial agreement gives a Missouri couple the opportunity to address gains in the business the over the course of the marriage. Should these gains be treated as marital property or personal property? With the help of an experienced family law attorney, a couple can determine this ahead of the wedding date and then look forward to living happily ever after.

Source: The Washington Post, “Why you’re more likely to have a prenup than your parents were“, Jonnelle Marte, Aug. 4, 2017

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