Prenuptial agreements, also called premarital agreements, often have a bad reputation. Typically, the primary concern with a prenup is property distribution, but that isn’t the only thing these documents are good for.
A prenup is a legal document created before the marriage to outline the legal wishes of each party. They can protect your interests and the future of your family. So, when asking yourself whether or not a prenuptial agreement is necessary, you need to consider what might happen to your children, your business, or your asset if your marriage were to end. If a prenup can help you protect those valuable interests, it would be worthwhile to learn more.
Prenups for Parents
Parents entering into a marriage with children from a past relationship might wish to create a prenup to help protect the interests of their children. The prenup can create legal guidelines to dictate how assets are distributed to their children should through receive any inheritance. they are entitled to, or how they should be cared for in the event of a divorce.
Even couples who do not yet have children can benefit from this aspect of a prenup because they can sometimes create rules in that agreement that express their financial wishes for future children.
Prenups for High Asset Marriages
If you or your future spouse has a substantial number of assets, a prenup can help ensure those properties, investments, etc. are properly handled during the marriage and in the event of a divorce. Business owners can also protect their business from division or significant losses by protecting their ownership within the bounds of their prenuptial agreement. Without a prenuptial agreement, businesses, properties, and other significant assets can be classified as community property and may be subject to division if the marriage were to end in divorce.
Protect Your Interests With a Prenuptial Agreement
If you’re ready to take the next step and establish a prenup, make sure you discuss your unique situation with an attorney. A knowledgeable attorney can evaluate your current situation, consider your priorities, and help align your interests with legal strategies, including premarital or postmarital agreements. To find out what more a prenup can do, and to figure out whether or not you could benefit from the creation of a prenuptial agreement, reach out to our firm.
Contact O’Neil Wysocki today to discuss your prenuptial agreement questions with our experienced attorneys.