Is a Prenuptial Agreement Right for Your Farm Business?

Farm and agricultural businesses often have high capital investments in land, machinery, livestock, and miscellaneous equipment, with many Ohio farms having more than $1 million in capital assets. With an average divorce rate of 50%, it is in the long term financial interest of all farms to protect their business assets in the event of a divorce of the business partners. One tool available to Ohio farmers is a prenuptial agreement. A prenuptial agreement, in its simplest form is a written contract between two people before they are married. To read OSU Extension’s new factsheet on prenuptial agreements, please go to http://ohioline.osu.edu/bst-fact/

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