Fortune Magazine recently wrote a story about the impact divorce can have on spouses with a mutual stake in a business. Ending a marriage can be difficult enough without having to consider the effect such a trying personal decision can have on your business life. If you’re going to become involved in a high income divorce, Cincinnati attorney John Heilbrun can provide you with the counsel you need.
A divorce involving high income and significant business assets is often complicated and can prove costly for both spouses. Though it might seem pessimistic, a prenuptial agreement is often an ideal way to protect your business interests in the event that the marriage ends.
A prenuptial agreement can address many of the business issues the spouses might encounter should they later choose to end the marriage, including each party’s rights and responsibilities in relation to the business.
The prenuptial agreement can specify:
- How the assets tied to the business, such as stocks, retirement plans, partnership holdings, and other forms of property a court must evaluate, will be allocated if there is a future dissolution or divorce;
- The specific role and duties each spouse shall have within the business if the marriage shall end;
- The extent to which a business that pre-exists the marriage, and its assets shall be considered marital or separate property if the marriage shall end by dissolution/divorce.
Creating a prenuptial agreement often involves hard decisions, especially when professional and business, as well as personal concerns are involved. John Heilbrun has helped many high-income clients in the Cincinnati area prepare for the future possibility of divorce through fair, honest and open discussions with the future spouse and their counsel.
If you and your future spouse are considering a prenuptial agreement, or you’re potentially going to be involved in a high income divorce, please contact the Law Office of John Heilbrun or call 513-321-3940 today to schedule your initial consultation. Mr. Heilbrun serves clients throughout the Cincinnati area.