Thursday, September 24, 2020

Prenups on the rise in California for Start-up Founders in love

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Many start-up founders, who are ready to go into marriage, now find it necessary to get a prenup in order to protect their privately held businesses in the event that a divorce happens.

 

The reason is stemmed from the fact that under Californian law, any wealth created by a spouse during the marriage is assumed to be a ‘Community Property’. As such, where a couple divorce, the wealth would be split equally between them.

 

This can pose a great disadvantage on the business of one of the spouses, and by stretch, the investors.

 

Fortunately, this disaster can be avoided through a well-written prenup. The prenup will safeguard a young entrepreneur against the post-divorce disaster, as the couple will clearly state what happens to their private businesses/wealth when the marriage hits the rocks.

 

Therefore, young entrepreneurs and start-up founders, who do not wish to split their business, and intend to keep their current and future wealth to themselves, now deem it wise to get a prenup.

 

Even those, who do not currently have a lot of money, but have hopes of making much money in the future, now seek a prenup to protect themselves in the event of divorce.

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