Before you get married, one of your options is to obtain a prenuptial agreement. A prenuptial agreement has many benefits, the most important being that it protects you in the case of a divorce.
Drafting a prenuptial agreement that you and your spouse agree on is important. It’s true that some people are offended by the thought of a prenuptial agreement, but it can benefit both parties if it’s worded correctly.
When is a prenuptial agreement recommended?
A prenuptial agreement is recommended when there are children entering the marriage with the parents, if there are businesses owned by either spouse and/or if one spouse enters the marriage with more assets than the other. It’s also a good idea to consider a prenuptial agreement if you or your spouse has significant debt or if either of you may become a public figure.
What should you do when designing a prenuptial agreement?
It’s important to work with two different attorneys. You each need to have your own, so you know that your interests are protected. Next, avoid creating the agreement on your own. Legally binding agreements should always be drafted by professionals. It’s wise to be fair in the prenuptial agreement, too, because an unfair prenuptial agreement may not hold up in court (and your potential spouse may refuse to sign it.)
In the end, a prenuptial agreement is a document that is supposed to make a divorce easier if the day ever comes. Consider having one carefully, and talk to your soon-to-be spouse about having a legally binding prenuptial agreement drafted.