What steps should a single business owner take to protect his/her business before getting married?
Have a professional business valuation completed prior to the marriage. This will clearly establish a value for what may be considered “separate property” and not subject to distribution. Then have a pre-nuptial agreement prepared that addresses the current value and future appreciation of the business during the marriage, source(s) of funds used to finance future growth and disposition of the business in the event the marriage is dissolved. If, for any reason, the pre-nuptial agreement is challenged in the future, you will still have the valuation to support the exclusion of the pre-marital value from the marital estate.
