If you are like most successful entrepreneurs and other business owners, the business itself represents your life work. It is one of the most important aspects of your life, something you want to protect against any attacks and challenges.
A couple of weeks ago, we wrote a post about prenuptial agreements and the "lifestyle clauses" that can be included in these contracts. These are personal provisions that can cover a vast amount of behaviors and actions.
If an engaged friend or family member was to inform you of their intention to execute a prenuptial agreement, chances are good that you wouldn't have too much of a reaction. That's largely because society as a whole has become far more accepting of these legally binding documents and the peace of mind they can grant to couples about important issues like property division and alimony.
In a previous post, we discussed how spouses in subsequent marriages looking to preserve assets to pass on to their children, spouses who have sacrificed careers to raise a family and spouses whose family-owned business has seen considerable growth are all viable candidates for executing postnuptial agreements.
While more couples are becoming open to the idea of executing a prenuptial agreement, others remain reluctant to take this step. Here, this reluctance may stem from the practical belief that they have nothing worth protecting to the romantic (and perhaps somewhat naïve) belief that divorce will never enter the equation.
Attitudes toward prenuptial agreements have undergone a remarkable transformation over the last decade, as more and more people have started to see them as a valuable tool that can save them time, money and energy in the event of a divorce as opposed to just a tacit acknowledgement that their marriage is destined for failure.
"No couple contemplates splitting the baby."
OK, so you and the spouse took a pass at executing a prenuptial agreement prior to your marriage a few years ago.
Many people who think about prenuptial agreements -- if they ever do think about prenups -- might be inclined to regard them in age-old and stereotypical ways.
Are you a Georgia resident who is a bit preoccupied with property-related matters as you are about to tie the marital knot?