When planning for marriage, couples often spend a tremendous amount of time preparing their wedding. Why not also spend a few hours preparing a prenuptial agreement? It could be time well spent and although it doesn’t sound romantic or fun, it can potentially save you great heartache and time in the future.
Making a prenuptial agreement, which is essentially a contract between future spouses and often called a prenup, does not automatically mean you will need the prenuptial agreement. Hopefully you will not. However, if the unfortunate time arises when you need the agreement, it will be invaluable. Think of it like this: We buy car, medical, and life insurance with the hopes of never needing it, but we are grateful we have it if and when we ever do need it.
A prenup has a variety of uses. Many people think these types of agreements are only for the wealthiest of individuals, but that is not the case. While a prenuptial agreement is often used to protect large business or personal assets, it can also be used to protect the future interests of any children you may have prior to your marriage. They are also used to protect you from the debt of your soon to be spouse or to outline how specific property will be divided in the event that the marriage ends. A prenup is valuable in that it decreases conflict and anxiety in the event of an impending separation or divorce.
Hopefully, you will never need a prenuptial agreement, but creating and endorsing one is considered a wise move. Therefore, you want to be certain that any prenup you create is valid and enforceable.
If you are interested in learning more about prenuptial agreements, contact our office and we will be happy to assist you!