Why Business Owners Need a Prenuptial Agreement
If you own a business, marriage automatically intertwines your personal and professional lives. Without a prenup, your company could be subject to division in divorce — even if your spouse never worked there.
Understanding How Divorce Can Impact Your Business
In Virginia, marital property can include any increase in the value of a business during the marriage. Without a prenup, you could be forced to sell or divide ownership to satisfy an equitable distribution award.
Prenup Provisions to Protect Ownership and Control
Your agreement can:
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Clarify that the business is separate property
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Protect future appreciation of the business
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Prevent forced sales or unwanted business partners
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Define buyout or transfer terms in the event of divorce
Setting a Clear Business Valuation Method
Determining a business's value in a divorce can be contentious. A prenup can set the valuation method in advance, saving time, money, and stress later.
Coordinating Your Prenup with Operating and Partnership Agreements
If you have business partners, your prenup should align with your operating agreement or shareholder agreement to avoid conflicts.
Contact G. Best Husband Law to schedule a confidential consultation and learn your options.
📞 Need legal advice? Call G. Best Husband Law, PLLC at 844-640-6100 today.
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