Prenups. It is fair to say that a certain stigma is attached to that word. After all, when planning a wedding, the last thing a couple wants to think about is the potential end of their marriage. The same is true for business partnerships: dissolution of a newly-minted business is the furthest thing from the mind of small business owners. However, in both cases, planning ahead—whether through a prenuptial agreement or through a dissolution plan in a partnership agreement—can have both legal and financial benefits in the long term.
Millions and millions of Americans die each year without a will (or “intestate”) and leave their families with unintended consequences and sometimes major headaches.
While it’s an unfortunate fact that we’re all going to die some day, it’s also a fact that we prefer not to dwell on it if we can avoid it, and a will makes us do just that. A survey conducted in 2012 found that almost half of Americans are intestate.