Prenuptial agreements are becoming increasingly common among millennials who are taking big steps to protect their assets as they prepare for the future. They are generally designed to determine certain issues related to property division during a divorce, which can give both parties some peace of mind regarding what to expect. Continue reading to learn more about why you need a prenuptial agreement.
Protecting Your Future
Prenuptial agreements are not just for the wealthy. Even couples of modest means can benefit from creating this important legal document.
Below is a list of reasons why you may need a prenup:
- One or both parties has been married before. If you have already been through a divorce, you may not be quite as willing to tie the knot without a little safety net. You are likely more aware of the problems that can evolve during a divorce and wish to avoid another ugly situation.
- One or both parties have children: If you have children from a previous relationship, you may want to keep some assets protected and separate to ensure they are provided for no matter what happens.
- One spouse is wealthier: If there is a major discrepancy of wealth between you and your future spouse, the wealthier spouse may want to have a prenuptial agreement in place to ensure the reasons behind the marriage are not entirely financial.
- One or both parties have a business: If you owned a business before getting married, a prenuptial agreement can provide the protection it needs to survive a divorce. Oftentimes, divorce can seriously disrupt or destroy a business, so if you want to avoid dividing your business, consider this a useful tool.
- One party will be a stay-at-home parent: Parents who forego having a career to raise children are making a big sacrifice when they choose to stay home. A prenuptial agreement can provide some security by promising that spouse will be compensated fairly in the divorce.
Prenuptial agreements are not as full of taboo as they once were. You and your future spouse can protect your futures and still believe in your marriage.
Get Started on Creating a Prenuptial Agreement Today!
At Kay Polk, Attorney at Law, our family law attorney will work with you to create an effective prenuptial agreement for your circumstances. You can rely on our knowledge and insight for the exceptional legal advice you deserve.
Reach out to our law office today at (713) 234-6260 to schedule a consultation!