While many people have a negative connotation when it comes to prenuptial agreements, the truth is that prenuptials can be beneficial to more than just the wealthy. Learn why you should consider creating this legal document before saying, “I do”.
A prenuptial agreement is particularly important in these situations:
- You are much wealthier than your partner.
- You earn much more than your partner. In many states, a prenuptial can be used to cap the amount of alimony that is payable.
- This is not your first marriage. Often, in remarriages, there are first families and financial support obligations to consider.
- You may be receiving an inheritance.
- Your partner has a significant debt load. You don’t want to be responsible for your partner’s debts if your marriage ends.
- You will be supporting your spouse through college or vice versa.
- You own part of a business. Without a prenuptial, your spouse could end up owning a share of your business- which may not be acceptable to your business partner.
- You have elderly parents to take care of.
- You plan to quit your job to raise children. A prenuptial will ensure that the financial burden of raising the children is shared fairly by both parents.
- You have or are pursuing a degree in a potentially lucrative profession such as medicine.
Do I need a prenuptial agreement?
Prenuptial agreements also can be beneficial to couples from a relationship perspective as:
- They force you to discuss money. Creating a prenuptial requires couples to consider their financial standing post-wedding as well as how finances will be handled. These conversations are particularly important since money is the number one cause of arguments in a marriage.
- They require full disclosure about assets and financial position. This helps couples enter into the marriage with their eyes wide open.
- They help develop rules and procedures for how to resolve future conflicts.
- They enable you to learn about your spouse’s true priorities and sentiments. More than money, a prenuptial can shed light on what things a spouse values.
To learn more about prenuptial agreements or to discuss creating one, please contact Board Certified Marital and Family Law Attorney Charles D. Jamieson who understands that drafting and/or proposing a prenuptial agreement is an extremely sensitive and important issue. Thanks to extensive experience and a focus on open communication, Attorney Jamieson adeptly addresses the complex issues surrounding prenuptial agreements while delivering excellent personal service. To discuss your prenuptial agreement, please contact The Law Firm of Charles D. Jamieson, P.A. or call 561-478-0312.