As your business flourishes, earning more than you ever dreamed possible when you were young and just getting it off of the ground, you have one concern: You did not use a prenuptial agreement when you got married. If you get divorced now, you are worried you are going to lose an incredible amount of your wealth. Your business may even be in danger. You wish you would have protected yourself in advance.
Why didn’t you? There are a few potential reasons. For one thing, your business was not worth nearly as much then, so you did not have the assets to protect. You wanted to be successful and hoped you would be, but you clearly had no idea it would go this far. Plus, you did not want to anger your spouse before the wedding. That was when you idealistically thought you would stay married forever. You know better now, but it is too late.
Or is it? One option that you can still use is to ask your spouse to sign a postnuptial agreement. It is too late for a prenup, but the postnup can address the same financial concerns and it can be signed by couples who are already married. If you’re already headed for a divorce, naturally, you can’t ask for a postnup at this point. If things are still going well, however, it may be something to consider.
You still have a chance to protect your wealth and make sure that a divorce does not harm your business. A postnuptial agreement can lay out the terms of a split in advance (should it ever happen). You are at a point in life where you understand what you have to lose. Make sure that you also understand what options you have to make sure that does not happen.