Wedding days are often preceded by decisions such as those related to floral arrangements and the planning of a romantic honeymoon. Although these things are important and make their realization a special and extraordinary personal occasion, there are also some important practical issues that engaged couples should consider. Among these matters is the frequently debated prenuptial agreement. Some critics claim that a prenuptial agreement is not romantic and creates an easy way out of marriage. However, people who have created a prenuptial agreement will tell you that they did not create the agreement for the purpose of getting married and divorced and couples who divorce will tell you that they had divorced with or without a prenuptial agreement.
Why is a prenuptial agreement important ?
If the existence of a prenuptial agreement is not a factor in a couple’s decision to divorce, then why is it important? A prenuptial agreement is important for many reasons, including:
- The protectionfrom the property: Couples may decide to protect certain property for themselves or for other family members in a prenuptial agreement. This can be done for a number of reasons and in different ways. It is commonly seen when there are children from a previous marriage that the biological parent wishes to provide or when there are substantial assets or important family inheritances that a person wants to leave aside from a spouse in the event of a divorce.
- In Divorce Times you can reduce Arguments and Save Attorney Fees:When a couple decides to divorce, typically, each spouse is represented by a lawyer who helps them negotiate the division of property. An executable prenuptial agreement can eliminate many of the hourly accounts of divorce attorneys, since the couple has already decided how to divide their property and possessions. In some cases, the spouses may also decide the aspect related to the maintenance of the spouse or food in a prenuptial agreement. Although some points may remain as custody and child support, when deciding on many of the financial aspects in a prenuptial agreement, this can facilitate a faster and less expensive divorce that could not be obtained otherwise.
- Separation ofThe responsabilityfrom Debt: A prenuptial agreement can describe how the couple will be responsible for debts incurred before marriage. For example, if a person arrives at the marriage with a significant credit card debt, then the prenuptial agreement can make the spouse who has said debt predated to the marriage responsible for it, in the event of a divorce.
- Protection of a Family Business: A family business can be seen as a valuable asset during a divorce and, in the absence of a prenuptial agreement, a court can grant some of your property rights in a family business that will soon be your spouse. It is obvious that, potentially, that can lead to an unpleasant situation since a family business is no longer “just” a family business. A prenuptial agreement can protect your property in the family business and prevent the court from granting any part of its property to your spouse.
A prenuptial agreement allows the couple to determine how they want their property to be divided while they are on good terms and without any animosity. Consequently, for all the reasons described above, it is important to consider a prenuptial agreement before getting married.
Talk to a lawyer qualified in Family Law today
This article is intended to be useful and informative, but legal issues can become complicated and stressful. A lawyer qualified in family law can attend to your particular legal needs, explain the law and represent you in court. Take the first step now and contact a qualified family law attorney near you to discuss your particular legal situation.