When you and your spouse got married, you thought about asking for a prenup. After all, you’re a business owner. You don’t want to risk your business or your financial assets for your marriage. Obviously, you hope that you never get divorced, but you also know that you need some sort of protection in place because you have to think about more than just yourself. You also need to think about the company and the employees.
Unfortunately, you knew that your spouse was against using a prenup entirely. You worried that they might even feel very insulted if you asked them to sign one. So you decided not to do it.
But now that you’re married, you realize that you made a mistake. You should’ve used a prenuptial agreement to protect your business, and now you’re worried about the ramifications in the future. Is there anything you can do?
You may be able to use a postnuptial agreement
One potential option is to use a postnuptial agreement instead of a prenup. In a lot of ways, this document works in the same fashion. You can use it to define specific assets, make financial decisions and give your business the protection that you want for it.
The catch is that you and your spouse both still need to sign it out of your own free will. If they will do so, then this is an easy solution. But they’re not required to do it and you’re already married, so they may decline to sign the postnup and leave you in a difficult position.
Even so, you can see how important it is to make all the right legal decisions with your marriage and your business. Be sure you always understand the steps that you can take.