When you get married, the last thing you want to think about during this happy time of your new life is the “what if’s” of if the marriage doesn’t work out. But for many couples, a prenuptial agreement can be a wise decision to make. If you and your significant other decide to formulate a prenup before tying the knot, it is important that you each seek legal advice. The family law and divorce attorneys at The Sampair Group know the benefits of a prenuptial agreement and will guide you through the process to make sure that your agreement is consistent with state laws and is fair to both parties. There are many benefits to a prenup agreement, and it can often be a win-win for everyone involved if the marriage were to not work out.
Preserves Property and Assets
Through a prenuptial agreement you can preserve property and assets that you attained prior to the marriage. This could also include the obligation to support children from a prior marriage, and for many other reasons.
A prenuptial agreement lays out all of the arrangements and understandings that the spouses can agree upon before marriage. This formal agreement helps both parties know what to expect so they won’t have to worry about what will happen in terms of assets, finances, etc. in the event of death or divorce.
A prenuptial agreement can protect the assets of one spouse from being used to satisfy the debts of the other party that they may have built up prior to the marriage.
Minimize Divorce Drama and Costs
When you sign a prenuptial agreement, it leaves less room to fight about assets and other aspects of the divorce. It has all already been set out by you beforehand and agreed upon between your spouse and yourself, resulting in less stress if anything happens to the marriage. Divorce can be costly, and a prenup can also help minimize the monetary damage.
Family members of each spouse can also be protected through a prenuptial agreement. It will ensure that family members receive (or don’t receive) marital property in the case of death or divorce. This is commonly used to protect the interests of children from a previous marriage.
Protect Family Business, Heirlooms
When there are children from a previous marriage, keeping family heirlooms out of the marital estate can be important. A prenuptial agreement can ensure that they are kept out of the marriage and provided to the person(s) they are intended for. A prenup can also keep control of property that belongs to a family business.
Divorce paperwork and agreements can be difficult and messy, so it is important to seek legal guidance when deciding if one is right for you and your spouse. Contact the divorce attorneys at The Sampair Group today for more information.