People in Ohio who own a business and who are getting married should take steps to protect that business. One of those steps may be creating a prenuptial agreement. This can help ensure that the business is considered separate marital property even if the other spouse helps out in the early days of the business. If the couple is already married, the business owner can create a postnuptial agreement. It is important that each person have a separate attorney review the agreement.
Another way to protect the business is by ensuring that provisions are in place to protect it in case the owner is divorced. How this is done depends upon the type of business entity, but there are a few issues that should be considered. For example, the provisions can deny voting rights to the spouse, require all owners to have a prenuptial agreement and reduce the likelihood that the spouse can take ownership.