An Important and Delicate Subject
by Steve Swartz
The subject of antenuptial agreements is clearly one of the “unspoken issues” related to family wealth.The courtship and commitment stage of a relationship is fueled by feelings of intimacy and optimism, with thoughts about the material realm well in the background.Yet, when there is a family business or family wealth, it is necessary to deal with this important and delicate businesses and interpersonal issue, a prime example of the overlap of love and money.
A surprisingly large percentage of the accumulated wealth in the United States resides in ongoing family businesses, or in family offices managing theproceeds from the sale of such businesses.Although often “invisible” to those on the outside, it is estimated that approximately 95% of all U.S. businesses are family owned, producing about 50% of the Gross Domestic Product. More…
Promoting or Undermining
Sound Family Relations?
by Michael L. Fay
Frequently couples contemplating marriage are urged to negotiate a prenuptial agreement.Although such agreements are now commonplace, misconceptions about their purposes and effects are also widespread.Relations between the couples’ families may be damaged if negotiation ofagreements is handled indelicately, particularly if the agreement is viewed by the parents (or children) of one party as an expression of distrust, disapproval or lack of confidence in the other.
Couples planning a prenuptial agreement and their professional advisors may benefit from the following analysis of, the purposes and benefits of such agreements, and the means of negotiating the agreements to protect the financial interests of each party and promote mutual interest in strengthening their relationship with each other and with their respective families. More…