Prenuptial Agreements News

FAQs About Prenuptial Agreements

For many couples, drafting and signing a prenuptial agreement is one of the steps taken before their wedding day. A common misconception about a prenup is that only wealthy couples need to consider using one. However, the agreement should be considered by most couples.

What Is a Prenuptial Agreement?

A prenuptial agreement is simply a legal agreement between a couple that can help protect each person’s property if they divorce. It can help to set the limits for what is considered community and marital property. It can also help to save on court costs and conflicts if the marriage ends.

The agreement is drafted by an attorney. Both parties have input on what is in the agreement. Ideally, both parties should have their own attorneys to ensure each person’s wise interests are considered.

Why Do You Need a Prenup?

Even if you and your spouse are not wealthy, you likely still need a prenup. The prenup benefits not only your spouse, but you, too. The agreement not only considers your current income, but can also protect your future income. If you start a business in the future or inherit any assets, the right agreement can protect them.

A prenuptial agreement can also establish what each spouse is entitled to when it comes to spousal support. If your marriage does end, you and your spouse can refer to the agreement to determine what should be paid in support.

Most importantly, a prenup can help to open communications with your future spouse about your finances. It is a chance to eliminate any misunderstandings regarding finances that could have an impact on your marriage later.

You and your soon-to-be spouse can learn more about prenuptial agreements and the benefits of having one by discussing it with an experienced family attorney. At the least, you can explore whether having a prenup is ideal for both of you.

If you need legal assistance you can also find additional legal aid here and you can search for a lawyer here.