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[quote=Anonymous][quote=Anonymous]Don't do it, especially if you live in VA bc if you divorce you may be entitled to half of that.[/quote]

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[/quote]

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