How A Prenup Can Benefit Your Marriage

Prenuptial Agreement Lawyer

Most people enter a marriage in hopes that their union will last a lifetime. But this may not always be the case, as the fate of some couples will end in divorce. One of the many conflicts that stems from divorce has to do with finances and property. By writing and signing a prenuptial agreement, you can keep yourself protected in case the marriage ends in divorce. A prenup is a document that stipulates how assets would be divided between the couple if they parted ways. It is a useful approach to avoiding lengthy and expensive court battles that can also be emotionally draining. While no one really wants to prepare for their marriage failing before it’s even started, it’s just a more realistic outlook that can benefit the both of you. 

If you are thinking about initiating a conversation with your soon-to-be spouse about a prenup, you may be nervous to do so. But one way you can approach the topic is by discussing your finances and considering what each of your liabilities and assets will be and how it can affect the other. For example, some people may be entering a marriage with substantial debts, and a prenup can help protect their spouse from any financial impact from that in the future.

The fact of the matter is that when you get married, there are certain laws that come into effect immediately. Such laws can dictate not just your marriage but how things are handled if divorce happens. As a prenuptial agreement lawyer explains, by establishing a prenup, this is the best way to curtail how state law would affect your relationship. In this way, you have more control over the matter and won’t have to default to what state law says, which is not likely to consider your personal preferences or relationship nuances.

If you have accumulated quite a bit of wealth, and you marry a partner whose assets are more modest, you could risk losing a considerable amount of earnings to them if you end up divorced. This is especially important if you are retired, or close to retirement age, because you won’t have an opportunity to earn money during your divorce. The best approach to protecting your assets is getting a prenuptial agreement prior to getting married. Through this document, you are guaranteed that such assets will be distributed in a fair manner if you decide to go your separate ways.

Establishing a prenup before marriage can be a difficult conversation to have, particularly if one person has more to lose or gain from the marriage. Many people consult with a law firm, such as Carpenter & Lewis PLLC, for help writing a prenup that addresses the concerns of each person. It’s understandable that you would be apprehensive to talk to your partner about devising a prenup. But ultimately, it is something that can greatly benefit you both if you consider that each person will bring their own set of debts and assets that essentially become one during your marriage.