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Exactly two years after saying “yes,” Jennifer Lopez officially said “no” when she filed divorce papers from Ben Affleck in Los Angeles County Superior Court on August 20. According to documents obtained by TMZ, Lopez waived her right to spousal support and requested that Affleck be denied that support.
We won't get into the personal reasons for their split, but it's worth noting that an inside source told NBC News that the couple did not have a prenuptial agreement. This means that any money Affleck or Lopez have made since their July 2022 wedding is joint property. This may or may not be a point of contention in the proceedings, but it's a good reminder to anyone entering into a business partnership that, as unpleasant as it may feel in the moment, it's best to cover the legal bases before officially starting.
Related: Jennifer Lopez believes Latin American entrepreneurs are undervalued
“You may think a handshake is enough, but that's not enough, especially if there are disagreements or one party wants out,” serial entrepreneur Mike Kappel wrote for Entrepreneur. Kappel strongly recommends meeting with a lawyer and formalizing a partnership agreement that specifies:
- How each partner is compensated and how often.
- The roles and responsibilities of each partner.
- Your exit strategy if one or more parties wish to leave the partnership.
- What happens if a partner dies?
These are not pleasant scenarios, and most relationships start with enthusiasm and excitement. But circumstances change and life can be unpredictable.
“As your business changes, your roles may change too. You may eventually want to bring in additional partners or change the terms. It's a good idea to periodically revisit the agreement and make sure it's up to date,” Kappel writes. “A partnership can be a great way to start your business. With the right personalities, a sense of humor, careful planning and a little luck, your partnership can be a great success.”
Create your very own Auto Publish News/Blog Site and Earn Passive Income in Just 4 Easy Steps
