Using A Prenuptial Agreement to Protect the Small Business

Authors

  • Sandra J. Perry Bradley University

Abstract

A divorce or death in the small business owner  family  can threaten loss of assets and/or control of the business. A prenuptial agreement can be used to control the distribution of assets upon divorce and/or death in order to preserve the assets of the business and retain ownership and control of the business. Small business consultants are in a unique position to discuss this matter with their clients and suggest a policy regarding prenuptial agreements.  General requirements of prenuptial agreements and possibilities for  use in the small business are discussed.

References

Brandt, E. ( 1997). The Uniform Premarital Agreements Act and the Reality of Premarital Agreements in Idaho. Idaho L. R 33, 539-565.

Davis, M. (1988). Till death do us part: antenuptial agreements concerning wills and estates. Probate L. J .. 8, 301-325.

ERISA, (1988). Employment Retirement Income Securitv Act of I 974, 29 U.S.C. 1001 - 1461. Featherston, T, Jr. & Douthitt, A. (1997). Changing the Rules by Agreement: The New Era in Characterization, Management, and Liability of Marital Property. Baylor L.R. 49, 271-322.

Frunzi, S. ( 1990). Planning ahead for the wedding bell blues. Trust & Estates 129, I 0-22. Garpstas, T. & LeGalley, R. (1996). Unconditional Love. Harper's Magazine, 292, 24.

Gunman, D. (1996). For Better or Worse, Till A DR Do Us Part: Usi ng Antenuptial Agreements to Compel Alternatives to Traditional Adversarial Litigation. Ohio State Journal on Dispute Resolution. 12, 175-191.

Hoffman, J. (1995). How They Keep It. New York Times Magazine, 104.

Howard v. Branham & Baker Coal Co., 968 F. 2d 1214 (6" Cir. 1992) (unpublished).

Hurwitz v. Sher, 789 F. Supp. 134 (S.D.N.Y. 1992), af!'d., 982 F. 2d 778 (2d Cir. 1992).

In re Estate of Hopkins, 574 N.E. 2d 230 (Ill.App. 1991 ).

In the Maner of the Estate of Beesley, 883 P. 2d 1343 (Utah 1994).

Ladden, R. & Franco, R. ( 1990). The Uniform Premarital Agreement Act: an ill-reasoned retreat from the unconscionability analysis. American Journal of Family Law, 4, 267-286.

Livingston, A. (1997). Make Your Family Business 'Divorce-Proof.' Nation's Business 85, 64- 65.

Lutgert v. Lutgert, 338 So. 2d 1 1 1 1 (Fla. App. 1976).

McMenarnin, B. ( 1 996). 'Til Divorce Do Us Part.' Forbes 158, 52-60.

Mulroy, T., ( 1996). Divorcing the Elderly: Special Issues. American Journal of Family Law. 10, 65-70.

Nellis v. Boeing Co., 1992 WL 122773, 1992 LEXIS 8510 (D. Kan. 1992).

Parley, L. (1995). Premarital Agreements in Connecticut: Where We Are and Where We Are Going. Connecticut B. J.. 69, 495-514.

Rose, M. (1991 ). Pension plans: why antenuptial agreements cannot relinquish survivor benefits. Fla. L. Rev. 43, 723-737.

Sharfstein, H. (1998). Particular Pren ups Ensure Businesses Stay in the Family. The National Law Journal, 20, C I I-C 12.

UPAA, (1987). 9B U.L.A. 369

Zinn v. Donaldson, 799 F. Supp. 69 (D. Minn. 1992).

Downloads

Published

1998-01-16

Issue

Section

Articles

How to Cite

Using A Prenuptial Agreement to Protect the Small Business. (1998). Journal of Small Business Strategy (archive Only), 9(1), 54-63. https://libjournals.mtsu.edu/index.php/jsbs/article/view/381