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Protecting Your Tampa Bay Business With A Prenuptial Agreement

Under Florida divorce law, businesses are subject to equitable distribution.  This essentially means that it can be considered a marital asset that is divided as part of the resolution of all divorce-related issues.

Small-business owners, who have shed blood, sweat, and tears for their endeavor, find it surprising and frightening that a business might be divided in divorce.  Further, this can be disruptive to the spouse of the small business owner; if the business begins failing due to protracted fighting or litigation, the spouse’s ability to receive alimony or child support is greatly reduced.

Protecting Your Small Business

One way to protect a business from the fallout of divorce is to enter into a prenuptial agreement or, if you are already married, into a postnuptial agreement.

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Polyamorous “Divorce” in Tampa Bay

More and more people in the Tampa Bay area and beyond are finding themselves in relationships that do not quite fit the traditional mold.  Many are in long-term romantic relationships with more than one partner, where the other partners are also in romantic relationships with each other.

These relationships are oftentimes referred to as “polyamorous,” or love involving more than 2 people.  Polyamory is not about sex, just as traditional marriage is not about sex, but about the relationship between the partners.

And just as many traditional marriages end in separation, polyamorous relationships can also end in separation.  The problem is that the laws and the court system are not built with polyamorists in mind.

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Prenuptial Agreements: Divorce Planning or Collaborative Marriage Planning?

Prenuptial agreements have been around for quite some time in Florida.  They are an agreement between people who are about to wed in which the parties set out their rights and responsibilities in a written document that is executed in front of a notary and two witnesses.  Prenuptial agreements are oftentimes thought of as “divorce planning” so as to avoid a future nasty court battle, should the parties’ marriage not work out.

But who wants to plan a divorce, especially when you are not even done making the wedding plans?

There is an alternative.  It is a new process known as Collaborative Marriage Planning.

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Drafting an Enforceable Florida Prenuptial Agreement

You probably have heard stories of people who had prenuptial agreements, thought their assets were secure, and yet, at the time of the divorce, had those prenuptial agreements thrown out by a judge for being unfair, overreaching, or being executed without sufficient financial disclosure.

To address the concerns of those who are thinking of getting a prenup, I recently wrote an article for The World of Collaborative Practice Magazine in which I discussed an essential process to utilize if you want an enforceable agreement:

I am seeing more and more clients – especially those who have previously experienced marriage and divorce – come to my office to learn about prenuptial (also known as premarital) agreements. Though they certainly do not go into the marriage planning to divorce, they know the statistics and want a prenuptial agreement to protect them and ensure that they do not get trapped in endless litigation later on.

At the same time, I find fewer and fewer family law attorneys who are willing to draft prenuptial agreements. Lawyers fear that, for whatever reason, the agreement could later be found to be unenforceable. Void prenuptial agreements create, at best, client dissatisfaction with the drafter and, at worst, risk of a malpractice suit.

Nevertheless, the demand for prenuptial agreements is increasing. How does an attorney minimize the risk that the agreement will be invalidated? The answer is close to our hearts, given that the interdisciplinary collaborative family law process is tailor-made for drafting prenuptial agreements.

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Tampa Prenuptial Agreements: Collaborative-Style

Potential clients come into my Tampa office all the time to learn about prenuptial agreements, how they can protect interests, and how they can provide for a more certain future.

For all these clients, I suggest that they utilize the collaborative method when developing a prenuptial agreement with their future spouse.

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