Do I Need a Nuptial Agreement?

 

Should I have a prenup, and if so, why?

Marriage is a beautiful kind of partnership that allows two people to commit to one another in many areas of their lives. Although getting married is a joyous occasion, life long commitments are hard and don’t always last.

Unfortunately, most marriages that end in divorce do not do so on good terms. When this happens, one spouse may have the ability to take advantage of the legal separation by trying to (obtain, diminish, or gain from) the other spouse’s assets, parental rights, or financial successes. By way of a nuptial agreement, all of this may be avoidable.

What is a Prenup?

A prenuptial agreement is a premarital legally binding contract that is agreed upon between two parties to protect a variety of interests in the event of divorce. Such agreements may also be used to legally govern over spousal support, finances, and/or property division in the event that one spouse passes away.

Prenuptial agreements can be very broad or even very specific, depending on how the agreement is created and what the intents and purposes behind it are.

Benefits of a Nuptial Agreement

• Asset protection
• Clearly outlined expectations
• The avoidance of conflict in the event of divorce
• The saving of time and money if divorce were to occur
• Avoidance of state dictated property division
• Assurance of a fair separation
• The protection of children involved

What is a Postnuptial Agreement?

A postnuptial agreement works similarly to a prenuptial agreement. The only difference is that a postnuptial agreement is contracted after a legal marriage has already taken place to protect the interests of one or both spouses in the event of divorce.

Reasons for a Prenup or Postnuptial Agreement?

There are many circumstances where a nuptial agreement may be beneficial or even advised, some of which include:

• The protection of parental rights
• Property division prevention or guidelines by which to do so
• Guidelines for the division and/or protection of retirement funds, stock, and bonds, etc.
• Protection for someone who was being supported by their spouse while earning a degree during the marriage
• The protection of someone was supporting their spouse while earning a degree during the marriage
• Protection of pre-marital financial assets and businesses
• Protection of those that make a significantly higher income than that of their spouse
• Protection of individuals that own or plan to own a business
• Debt responsibility

Why Partner With a Prenup Lawyer

If you feel the need to have a prenup set in place within your marriage, you must find an experienced prenup lawyer with family law experience who can make sure your interests are protected to the fullest extent of the law.

Doing so will ensure that your nuptial contract serves its purpose in the event of separation from your spouse, whether that be by death or divorce.

At CWMPK, we understand the desire and/or need to have a nuptial agreement in place. With our extensive experience, we have the knowledge and skill to guide you through the nuptial agreement process and help you develop a contract that meets your needs and protects your interests. Contact us today to secure your future in the event of marital separation.