July 20, 2017
Preparing for divorce before you even get married sounds like a great way to kill the romance, doesn’t it? Marriage is often painted as a romantic joining.
While that is true, it’s also a legally binding partnership. And given current divorce rates, it’s often pragmatic to protect each side in case the partnership later dissolves. A couple might want a prenup if the individuals have many assets or want to provide for children from previous relationships.
Creating a prenuptial agreement offers an opportunity to avoid bitter disputes and the cost associated with property distribution. If you and your partner are considering a prenuptial agreement, here are some basic guidelines:
DO consult an attorney. While some couples prefer to draw up their own agreement, it’s best to have an attorney review the language to make sure it is enforceable.
DON’T wait until the last minute to discuss the idea or to create the agreement. A prenup should be discussed as soon as possible. As the wedding date draws near, it creates a deadline. The related pressure may force one or both parties to sign something they don’t feel comfortable with. Later, he or she might say it was signed under duress, which could make the agreement invalid.
DO calmly discuss the issues, setting aside emotion as much as possible. Include all property, debts, and alimony. Consider not only children, but any business partners who might be affected by your separation.
While a prenuptial agreement isn’t romantic, discussing each person’s finances and getting these issues out in advance may improve your chances of remaining married.
Some information in this post was provided by Smith Debnam Law.