Seder & Chandler, LLP
Worcester 508-471-3018
Westborough 508-709-0024

Prenuptial agreements may especially help small business owners

Aside from having a baby, getting married is among the most exciting events two people can experience. However, before walking down the aisle, couples may benefit from creating and signing prenuptial agreements. This is particularly true for those who are small business owners in Massachusetts and elsewhere.

A business that is developed during the course of a marriage is legally considered marital property. In other words, both spouses own the business. In the same way, if a spouse had his or her own business before the marriage but developed this business during the marital union, any appreciation that takes place in the business's value is deemed marital property.

However, with a prenuptial agreement, a couple can dictate before they get married how they would like to treat this asset. Perhaps they prefer for the business owner to keep his or her business as separate property no matter what the law dictates. Coming to an agreement on such matters before going down the aisle is much easier than sorting them out once the divorce papers are filed.

However, divorcing couples in Massachusetts who never put together prenuptial agreements before getting married still have options when it comes to addressing asset division and other divorce issues without further court intrusion. For instance, they can reach a settlement through informal negotiations and divorce mediation. An attorney can provide the guidance needed to make sure that a spouse's wishes are upheld and that his or her rights are protected during all stages of the divorce proceeding.

Source: Forbes.com, "Those Who Are Most In Need Of A Prenup May Surprise You," Alyssa Rower, Jan. 28, 2018

No Comments

Leave a comment
Comment Information
Get Legal Help Now

Contact Us Today To Learn More

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Worcester Office
339 Main Street
Suite 300
Burnside Building
Worcester, MA 01608

Phone: 508-471-3018
Worcester Law Office

Westborough Office
1900 West Park Drive
Suite 280
Westborough, MA 01581

Phone: 508-709-0024
Westborough Law Office