Reply to Would you sign a prenup?

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[quote=Anonymous]The parents are completely wrong to boycott the wedding (a family event) over the prenup issue (a business issue.)

That said, their concern is legitimate. In a family business, most of the husband's assets are probably non-liquid. Upon divorce, if those assets are divided, transferring them to an ex-spouse is likely to require either making the ex-wife a partner in the business (obviously undesirable and only possible if she agrees, anyhow) or liquidating the business's assets to pay her off in cash, which would have a significant business effect and might even mean dissolving the company.

This is a perfect situation for a prenup. There is no standard form to which the bride is forced to acquiesce; rather, it is an opportunity for the couple to discuss in advance what would be a fair solution to a difficult problem. With their lawyers, they can mutually craft a plan to address what they hope won't happen in the future, that will be fair to both of them.

There are creative ways to solve this challenge that don't just mean, for example, a SAHM bride who gave up her own career walks away a pauper after a divorce.

The best prenups protect both spouses from excessive rancor, arguing, and unfairness upon divorce. I think the bride should set aside her prejudices and meet with a very knowledgeable family law attorney of her choosing to become educated about her options.

Then the parents should set aside their prejudices and remember that they are going to be parents-in-law, not just business owners. [/quote]

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