What should be included in a prenuptial agreement for a business owner?

By Cynthia Ann Brassington
September 22, 2017
What should be included in a prenuptial agreement for a business owner?

The prenuptial agreement is a contract between two people who are contemplating marriage and is effective upon the date of the marriage or civil union. The agreement should include all property of the parties including their business, real estate investments, retirement accounts or pensions and debts.

When I prepare a prenuptial agreement it is imperative that the agreement contain full disclosure. Therefore in a business I obtain the corporate and personal tax returns of the business owner. Now of course that may include a K1, Schedule C, whatever tax documentation is applicable. Parties do generally not obtain a forensic evaluation for a prenuptial agreement but a business owner generally has an idea of what his or her business would sell for. I include that value but the parties confirm any agreement that they accept that stipulated value knowing that they waived their respective right to any formal forensic evaluation.

New Jersey attorney Cynthia Ann Brassington is certified by the Supreme Court of New Jersey as a Matrimonial Law Attorney, and regularly helps people to resolve their divorce-related issues, from property division, to child support, and custody. To learn more about Cynthia and her practice visit www.LinwoodFamilyLaw.com.

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September 22, 2017
Categories:  FAQs

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