3 Questions About Prenuptial Agreements
Posted on: 25 June 2020
Are you in the process of getting divorced and wish that you had a prenuptial agreement? This agreement that is created before the marriage can help a couple set their own rules for how assets would be divided if a divorce were to happen. Here are a few questions you likely have about prenuptial agreements that will help you be better prepared for future marriages.
Why Use A Prenuptial Agreement?
A prenuptial agreement is not always necessary, especially if you are happy with the divorce laws in your state. Prenuptial agreements usually are necessary when a couple is not happy about those laws and want to do things their own way.
For example, some people feel that if you are married that all assets that you bring into the marriage should be communal property. The prenuptial agreement may actually go against what the state laws say about assets, but it is what both couples decide is fair. Another example would be that you may not be happy with how a business is handled during a divorce. If you spent your time building up a business that you consider your own, you may want to make sure that the appreciation of the business does not need to be divided in order to avoid complications.
How Do You Make a Constructive Prenuptial Agreement?
Many people do not want to make a prenuptial agreement because they feel like the act of creating one can be destructive towards their marriage. This does not always need to be the case, since a prenuptial agreement can actually be constructive and ask questions about how finances and assets are handled during the marriage and work those issues out now.
If you work with a lawyer to create a prenuptial agreement, they can help drive the conversation about how marital assets will be combined so that you have reasonable expectations. This is important when two people have widely different income levels, which lead to different expectations about how to handle their finances.
Does A Prenuptial Agreement Create An Unfair Divorce Settlement?
A prenuptial agreement doesn't always mean that one person is going to come up short if they get divorced. It can be used to simplify the division of assets that would normally be very complicated. In the example of the business, you may want to come up with a way to divide the appreciated value of the business that is not disruptive to the employees and customers. A prenuptial agreement is the tool that can make this possible. It will make it easier for you to work with divorce attorney services should the time come.
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