Postnuptial Agreement - Would you sign?
![[Post New]](/jforum/templates/default/images/icon_minipost_new.gif){kind=icon}
Anonymous
| Why wouldn't you sign? If it's his mom and dad's money, why do you care? |
Anonymous
| Don't do it, especially if you live in VA bc if you divorce you may be entitled to half of that. |
Anonymous
Not half of the business...as the whole family owns it. She could be entitled to a marital share (not necessarily half) of the value of the husband's share of the business as of the date of the separation unless she has a legitimate reason to seek an alternative date of valuation. Let's say she doesn't sign today and he separates from her. The business may be worth zero today. If his family is pushing for this, why not agree to inequitable divide the other assets in your favor? It IS not atypical to have business partners want an agreement signed that a business won't be divided in a divorce. This is mainly to prevent a forensic accountant from looking through the business and financial records of the company, valuing it, and putting a value on it that possibly a key member can't afford to pay (from liquid cash). So if that is what this is really about, what if: -you didn't waive support so support is based on income from the business to him -you got the majority of the assets (his risk...he risks the business not taking off- you have the bird in the hand of taking the majority of the house, retirement, investments, accounts, etc and he gets the business - maybe a 75/25 percent split OR you could also do a cap...so you could do what I suggest in this paragraph but if his share of the business ever sells during your lifetime or the kids' lifetimes for more than $1,500,000 then you (or the kids if you're dead) get 15 percent of the net sales price when it sells. --signed a divorce lawyer |
Anonymous
|
I would agree to sign the postnuptial agreement as long as it confirmed that DH would be responsible for all educational expenses for the kids and all assets aquired during the marriage would be split equally between the two spouses.
I would laugh at anything else. He's being an asshole. |
Anonymous
| Paying the kids' educational expenses doesn't help HER. She needs to ensure she's protected first. |
Anonymous
|
I would love to hear what the DH's perspective was.
OP - when you are ready, I hope you come back to share. |
Anonymous
That's one reason to have a provision in the post-nup stating that it's void if either party initiates divorce within X period of time absent an adjudicated determination of abuse or adultery, or by agreement of the parties to waive the provision. He could still wait it out and then divorce her, but it discourages this as a strategy if his intent is to divorce immediately after it's signed. |
Anonymous
Protected from what? Why does his family's income need to help her? It's not her business. |
Anonymous
If working for the family business is his full-time job, then the revenues from that work and the increase in the value of his ownership share are properly considered marital property, just as his earnings would be if he worked a job for an unrelated employer. Signing away all of her rights to it without securing some alterative payout would absolutely jeopardize her because everything else (e.g., everything derived from her earnings) would be considered marital property and split between the two of them, but she wouldn't be able to touch any of his. He'd walk away with all of his and half of hers, and she'd be left with half of hers and none of his. That's not an awesome place to be in at any age, but especially not if you're within 15 years or so of planned retirement, needing to buy a new home post-divorce, etc. |
Anonymous
The OP says "a family business deal on his side involving him and multiple family members." |
Anonymous
even if it is a not a full time job but there is any involvement in the "family business deal" (money, time) it would be marital property. |
Anonymous
|
Which is likely EXACTLY why this agreement is being discussed.
If there is a business or an investment and the marriage goes bad, the rest of the family doesn't want that to impact the business. It is possible to construct such an agreement where OP would achieve the benefit of the investment, or her legal portion thereof - and yet not be entitled to require a liquidation of the investment or business in order to get her portion. I would say that there is a 99.5% chance that this has nothing at all to do with her husband's happiness with their marriage and everything to do with the business and the other people involved. this is completely reasonable. |
Anonymous
No - it is not COMPELTELY reasonable. It depends what the doc says. |
Anonymous
| There needs to be a careful analysis by a qualified post nup attorney representing OP before anything is even considered. There a numerous ways in which the husband's share of the so called "family business" may already be marital property. He may know nothing of this, just be responding to suggestion by some attorney for the deal, for another family member, for someone's estate planning. Or he may be planning for a different future. OP needs an attorney. Perhaps, after they've each paid for a few hours of attorney time, they'll realize what a great system they already have in place. |
Anonymous
| 15 years in-- yikes!!! Nope. Don't sign.Reevaluate. |