How do I protect my business from my soon-to-be ex?
- Q and A
- 11 October 2023
- Edited 27 September 2024
- 1 min
- Rules and laws
Divorce can have a huge impact on your business. To limit damage to your business, you can draw up prenuptial agreements. You can do this even if you are already married.
No agreements on separation
If you are married in community of property, all possessions and debts are joint. Also your business. If you separate, each should get half.
With a marriage in general community of property, you do not make any agreements about the division in case of divorce. As a result, a long-term conflict is more likely to arise when you separate. That conflict can negatively affect your business. In extreme cases, you may even have to split the business in two.
You also run the risk of a divorce damaging your business if you are married in limited community of property. Then only assets and debts you accumulate during the marriage are joint. Do you already have a business before you get married? Then you do not have to share it in a divorce, but your ex can claim a share of the business value.
Standard
If you do not draw up a prenuptial agreement, you marry in limited community of property by default. Before 2018, you married in full community of property by default.
Prenuptial agreements
To limit the consequences of a conflict in a divorce, you can marry with a prenuptial agreement. With a civil-law notary, you make agreements on the division of assets and debts during the marriage and in case of a divorce.
For example, you can agree that the business remains 100% yours and what percentage of the business value your future ex will receive. In doing so, you can also lay down how you determine that value. This way, you can avoid a conflict about it in case of divorce.
You can draw up a prenuptial agreement before marriage, but also if you are already married in full or limited community of property. You can always amend the conditions.
