There is a lot of planning and preparation involved when a couple decides to marry. Planning and providing for financial stability and asset protection is something every couple should carefully consider. This financial security is the driving force behind insurance, estate planning and prenuptial agreements. In many ways, a prenuptial agreement is like life insurance...no one wants to see it end, but if does there is a "safety net" in place.
Every state has specific laws that determine how assets are dispersed when dissolving a marriage, commonly known as divorce law. The only way to supercede the state divorce law is to establish a prenuptial agreement, or in some cases a postnuptial agreement.
Prenuptial agreements protect the interests of both parties in the event of a divorce and can make separation more amicable. A well prepared prenuptial agreement provides specific instructions on how assets, such as property and retirement accounts, will be disbursed as well as care for any children and other considerations, such as equity in a business.
Who Should Get a Prenuptial Agreement?
Prenuptial agreements are worth considering in nearly every stage of life. A prenuptial agreement is not exclusively for wealthy individuals as a "prenupt" provides more than just economic considerations. Prenuptials have been created for many people, including:
- Those just starting their careers
- Second marriages
- Business owners
- Financially secure individuals
Family law attorney Mike Watkins will learn about your specific goals and concerns while creating a prenuptial agreement that fairly represents your interests. As an objective third party, a family law attorney will present many different scenarios you may not have considered. This expertise can lessen the drama, uncertainty, and emotional impact a divorce may have on both parties.
Contact us today to schedule a FREE Consultation and learn how a prenuptial agreement can play an important part in your planning and preparations for marriage. This "tool" is just as important as planning your estate or insurance needs.
