The Importance of a Prenuptial Agreement in the Event of Divorce

People usually enter marriage after they have established their professional life to ensure financial stability, especially during the first months of marriage. Despite the decision the couple will make to willingly share all their individual assets and properties with each other after marriage, many still find it wiser to enter into a prenuptial agreement first. Though there is no real intent of contracting divorce in the future and that separation or divorce would be the last option if the marriage turns sour, a prenuptial agreement will prove totally helpful as it will protect the interest of both spouses. Aside from that, it will also help greatly in settling divorce-related issues, such as alimony, child custody, visitation rights and division of debts.

A prenuptial agreement is primarily intended to save both spouses from financial and personal losses that will render them economically unstable in case of separation, divorce or even death of one of the spouses. Thus, its drafting can be adapted according to you and your spouse’s unique situation and relationship.

Though a prenuptial agreement can never be a romantic topic to discuss with your future spouse, talking about its importance and in mature and perfectly candid ways is necessary. In fact, lawyers and financial experts consider such agreement as wise financial moves. In his book Premarital Agreements, lawyer and an author Joseph P. Zwack gives tips on who should consider entering into such agreement. According to him these people are those who:

  • have assets like a home, stock or retirement fund
  • have a business
  • may be receiving an inheritance
  • have children and/or grandchildren from a previous marriage
  • are much wealthier than their supposed-to-be spouse
  • have loved ones who need to be taken care of, such as elderly parents
  • have or are pursuing a degree or license in a potentially lucrative profession
  • see a substantial increase in income due to growth of business or more promising career

For those about to enter into marriage, a prenuptial agreement is no longer an odd thing, but to make sure that you have the right agreement drafted it is wise that you have knowledgeable and experienced divorce attorneys working on your behalf. Save yourself from costly legal battles in case of separation or divorce; hire a divorce attorney for a prenuptial agreement that will suit your interests.

 

One Response to “The Importance of a Prenuptial Agreement in the Event of Divorce”

  1. Learn more says:

    I never thought that a prenuptial was important until a friend of mine went through a divorce and lost everything he had. Great information.

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