Crafting a Solid Prenup
Before you and your future spouse walk down the aisle, you may want to consider developing a prenuptial agreement. A prenup is a legally binding contract between you and your soon-to-be spouse that discusses important details regarding what will happen financially between you two in the event of a divorce.
Although many couples cringe at the idea of a prenup, having one can save you both a lot of hassle if you eventually decide that divorce is the only option. Continue reading to learn more about the components of a well-crafted prenuptial agreement.
The Question of Spousal Support
One major point of contention when a marriage dissolves is the question of spousal support. One spouse may earn less than the other and require financial assistance when the marriage falls apart. However, it is uncommon for marriage to end easily. In fact, many couples are at each other’s throats during the divorce, which is why alimony becomes an issue.
In your prenup, you can come up with a plan with which both spouses agree that enables the spouse who needs support to continue to survive while they figure out how to provide for themselves without the income of their soon-to-be former spouse.
Dividing Your Marital Assets
Many couples are under the impression that if they divorce, their debts, property and assets will all be divided evenly. Ever hear one spouse say that they’re entitled to half of everything their spouse has? On the contrary, a prenup discusses how the marital property and assets will be distributed.
It will typically protect one spouse’s inheritance, and other assets that they brought into the marriage, from being given to their former spouse during a divorce. Additionally, a prenuptial agreement will prevent one spouse from being saddled with any debts that the other spouse may be bringing into the marriage or even the debts that they might incur at any point throughout the marriage.
Hire an Experienced Prenup Lawyer
Suggesting a prenuptial agreement to your future spouse shouldn’t raise any red flags, even though many couples believe that a prenup means you aren’t fully committed to the marriage.
However, once you establish a prenup, it can actually strengthen your marriage, as you’ll both know in advance what will happen if you decide to go your separate ways. When you’re ready to build a quality prenup, speak with a family lawyer in PA who understands exactly what goes into a solid prenuptial agreement.