Prenuptial agreements provide peace of mind for both parties in a marriage by setting clear boundaries and expectations. As you plan your upcoming wedding, you might wonder if such a contract is right for your relationship.
There are a few times when a prenuptial agreement is helpful.
Do you own a business?
If one member of the relationship owns a business, a prenuptial agreement can define the ownership interest and control of that business. This preserves the financial integrity of the company in the event of divorce.
Is this a second marriage?
When remarrying, especially if you bring children into the relationship, a prenuptial agreement isolates and protects any potential inheritance or assets you intend for those children from your previous marriage.
Is there an income disparity?
When one party in the relationship makes significantly more than the other, or if one party will stay at home to raise children, a prenuptial agreement protects both parties’ financial interests. It defines those expectations and details financial compensations in the event that the marriage falls apart.
Do you have or expect an inheritance?
If one of you has or expects an inheritance from a relative, you should take steps to protect that inheritance and ensure that it stays in your family. A prenuptial agreement with a clause to protect any inheritance received during the course of the marriage does just that.
A family law attorney can help you assess your situation to see if a prenuptial agreement is beneficial for you. Many couples benefit from these contracts even when you may think them unnecessary.
