protecting your business w/prenup?

Discussion in 'Business Operations' started by The Green Way, May 28, 2003.

  1. The Green Way

    The Green Way Banned
    Posts: 45

    I have only been in business for a handful of years but I was wonderin if any of you all have gotten prenups before you got married, to protect your business? My buddy just went through a divorce and his company was alot bigger than mine, in fact he took it over from his father and now he may have to sell it cause his ex-wife is talking half! After only 5 years of marriage!!!
     
  2. Green Pastures

    Green Pastures LawnSite Silver Member
    Posts: 2,457

    I look at it this way. If I feel like I have to protect myself and my interests from my future bride, she would instantly become my ex-future bride. At the very least I would get into some premarital counseling and discover the reason I felt I needed to protect myself. If I could not overcome these feelings I would not marry that woman.

    Trust and love go hand in hand. You cannot trust without love and you cannot love without trust.

    I believe that when you get married you are no longer two separate people, but that you really become one. One in Christ and one joint being working together for each other's interests. Laying down selfish interests for the joy of looking out for the other persons interests.

    In a perfect world, where both parties involved are actively more interested in the others interests more than their own, it's a great relationship. This breeds deeper trust and love through appreciation of your partners devotion to you.
     
  3. Scraper

    Scraper LawnSite Bronze Member
    Posts: 1,656

    Nice view, but unfortunately the real world is a whole lot different.
     
  4. I used to think a prenuptial agreement was selfish and just something to set a marriage up for a fall. But there’s another way to think of it. If your bride is only interested in you, then what better way to show it by agreeing to a pre-nup?

    My best friend’s uncle was getting a divorce. They ended up in the Judge’s chambers and the Judge asked what caused the separation. His wife got all teary-eyed and said it all started with the pre-nup. Blah, blah, blah … So the Judge gave them time alone. She convinced that guy that the marriage had been destined to fail with the pre-nup, but she really did love him, and things could be great (even better) if she just didn’t have that “thing” hanging over her head. So he called the Judge back in and asked if there was a way to revoke the pre-nup. I don’t know the details, but the Judge made it happen. On the way out of the court-house, the tears evaporated and she started telling this guy what an idiot he was for giving up half of his property. He ended up getting the Judge to rescind that order.

    I can still see a woman’s side when it comes to property, possessions, etc. But a business is your livelyhood. How could someone justify a claim to half of that?
     
  5. DLCS

    DLCS LawnSite Platinum Member
    Posts: 4,374

    I have to agree with Green Pastures on this one. There is nothing like a prenup to say I don't trust you. If there is no trust, there is no true love.
     
  6. Scraper

    Scraper LawnSite Bronze Member
    Posts: 1,656

    The law looks differently on it, especially if the business is the sole breadwinner. You have to admit, at some point in time the noninvolved spouse is going to make sacrifices for the better of the company and that comes with a price.
     
  7. Fine, then quantify those sacrifices and how much it helped the company to succeed from the point of the marriage. She deserves half of that increase. Not half of the entire value. Who’s being selfish now? That’s why pre-nups are a good idea.

    Trust and respect. Can’t ask for either of them. From my experience, the people who pitch a fit about not being trusted are the very ones who don’t deserve it.
     
  8. Scraper

    Scraper LawnSite Bronze Member
    Posts: 1,656

    At least we agree on something. LOL
     
  9. turfcare

    turfcare LawnSite Senior Member
    Posts: 276

    I also agree with Green Pastures. If I thought I needed a pre-nup, then I would not have gotten married.
     
  10. drobson

    drobson LawnSite Member
    Posts: 237

    I don't think there is anything wrong with a pre-nup as long as it spells out that anything earned during the marriage is part of the marriage. The real purpose of the pre-nup is to make sure that the other spouse is not entitled to something that was pre-existing before the marriage.

    If it's a business, then it should be documented that the value of the business at the time of the marriage is the part that will remain with the original business owner if the marriage should fail, but what was built during the marriage should belong to both equally.

    If you are talking about a posession that does not increase in value, then the entire posession should belong to the original owner.

    Face it, a marriage involves people, and people change. So the possibility of a marriage failing is a reality. There is no reason why people should not be able to keep what they went into the marriage with, and the courts are to blame for needed things like a pre-nup to begin with. I for one would not expect to take half of my wifes grandmothers jewelry that she had since she was a kid just because we split up. That was hers before the marriage and should remain hers.
     

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