All You Need Is Love (And A Business Assets Antenuptial Agreement)

All You Need Is LoveUMass
(And A Business Assets
Antenuptial Agreement)

by Ronald P. Weiss
and
Ellen M. Randle

To a young couple engaged, their marriage will be a relationship of love and trust.With age and experience we learn that marriage is also very much an economic arrangement, involving the immediate, and often the extended families of the couple.We also learn that many marriages are not stable and end in divorce, and that any marriage can end with an unexpected early death.As much as you may like your child’s fiance, you are probably a little nervous about what may happen if your child owns an interest in your business and your child’s marriage doesn’t work out or your child dies.

As a business owner, it is natural for you to be concerned about who else owns an interest inyour company.Whether your children own an interest in your business, or you plan to give or leave your business to your children, you certainly do not want a hostile stranger as an owner, and you may not want anyone other than immediate family to be an owner.

If you mention your concerns to your lawyer, your lawyer may suggest that the couple enter into an antenuptial agreement. Mention an antenuptial agreement to your child, and your child may suggest that you are asking them to sign an antenuptial agreement. More…

Personal Financial Planning for Family Business Owners: Providing for the Future Without Rocki

Personal Financial Planning
for Family Business Owners:
Providing for the Future Without Rocki

How do you plan for retirement when most of your wealth is tied up in the business? That’s the challenge facing many owners of small and mid-size companies.

For owners of family businesses, though, that is just the beginning of the challenge. Because they must not only deal with approaches for generating retirement income, but with delicate family planning issues as well.

If the next generation of family members won’t be involved in the business, personal financial planning could take one course. If some members of the next generation want to be in the business and some don’t, personal financial planning could take another course. And if all members of the next generation expect to be in the business, it could take still another direction. More…