Getting Married Soon? Do You Need or Want a Pre-Nuptial Agreement?
In a society where a high percentage of marriages end in divorce, many more individuals are considering whether a pre-nuptial agreement should be signed before their weddings. It’s a good idea to consult with an attorney well before you set a wedding date to find out if such an agreement would be something you’d want to discuss with your fiancee. A pre-nuptial agreement can protect assets that you already own from being subject to any division with your spouse if your marriage later ends in divorce. The same applies to assets that you inherit both before and after your marriage. These agreements can simplify the way those assets you acquire while married will be divided if your marriage does end in divorce or even what will happen to those assets if one of you dies during your marriage. A pre-nuptial agreement can protect one party who invests a substantial sum into a marital home, assuring that party of getting their investment back if the marriage ends in divorce. It can also provide for whether one party will retain that home or whether it will be sold if the marriage ends due to divorce or death of one party. A pre-nuptial agreement is also used to limit the amount of support of alimony that one party may have to pay to a spouse that they are separating from or divorcing. This can be especially important to someone who was previously married and who may be paying alimony or child support to a former spouse. Many other areas that often lead to disputes after the parties marry can be dealt with in a pre-nuptial agreement in such a way as to encourage greater harmony after the marriage has taken place. These agreements are not for everyone but you should seek to educate yourself to see if it would be a good idea for you. The time to do so is well before the wedding invitations are placed in the mail.
By: David Gutin