Why a Prenuptial Agreement is a “Must”
It’s surprising that some of us don’t have a prenuptial agreement before making the decision to get married. According to the Wall Street Journal, a prenup is actually a “must” today.
Discussions about prenuptial agreements often end with comments like “It’s not romantic” or “We’re preparing for divorce before the wedding.”
Love brings you together. The decision to create a prenuptial agreement is about the financial partnership aspects of the union. A prenuptial agreement is a smart decision for both spouses. Here’s why.
About 35-50 percent of marriages end in divorce, but “100 percent end in death.” A prenuptial agreement helps couples to predetermine the distribution of assets to a spouse. Although it may seem unromantic to some, a prenuptial agreement can prevent future heartache and money problems in the future.
In many respects, discussions about finances are simpler before the wedding. Both spouses are more likely to want what’s best for the one they love.
If you’re entering a marriage with financial assets, or you expect to receive assets from an inheritance or trust, a prenuptial agreement is essential to your financial plan. It removes uncertainty for both spouses about the division of assets.
Most importantly, a prenuptial agreement allows you to share assets as you see fit. If you enter the marriage with certain assets and want to retain those assets in the event of a future divorce, the decision to sign a prenuptial agreement is a sound decision.
You can decide how much of these premarital assets he or she will share if you eventually divorce or die. Note that if either spouse has children from another relationship, you may want to protect assets for children as well.
Marriage is one of life’s sweetest moments. The decision to execute a prenuptial agreement can help both partners focus on the mutual love and respect you share. Contact the Law Office of Lois Garber Schwartz, Esq. to discuss your prenuptial or postnuptial agreement at 856-375-8989.
The articles on this blog are for informative purposes only and are no substitute for legal advice or an attorney/client relationship. If you are seeking legal advice, please contact our law firm directly.