A prenuptial agreement may not be considered much of a romantic gesture, but it may be a rational decision for those who wish to secure assets they worked hard to earn before getting married. While it might not be the most pleasant conversation to have, for many couples it is one worth having before tying the knot. A family law attorney may provide assistance in drafting the document.
Prenups May Help Anybody with Assets
A common myth is that a prenuptial agreement is for rich people. You don’t have to be sitting on millions of dollars in assets to benefit, though. Even those who have saved up a relatively small amount of money can create a prenup and may benefit in clarifying certain aspects of property division or other issues in the event of divorce.
It may also be recommended for those who own a business or a home, have stock or retirement funds, or have children or grandchildren from a previous marriage. In addition, if you are expecting an inheritance or huge increase in income in the near future, you may want to consider a prenup.
A prenuptial agreement can prevent one spouse from taking on the other’s debt. It can also address other financial aspects of marriage, such as if one party quits his or her job for the sake of the marriage. The contract can ensure that the party who takes this step receives compensation for his or her sacrifices.
Talk to an Attorney About a Prenup
A prenup may be a smart way to protect your assets or outline other terms in case of divorce. But this can be a tough decision to make, and many hold misconceptions about prenups. Contact Warren & Migliaccio, L.L.P. with any questions about prenuptial agreements or if you require help drafting the agreement. Call 1-888-584-9614.