Generally speaking, the greater the assets you’ve accumulated before you marry, the more important a prenuptial agreement is to your financial security. Many professionals agree that in an age when fully half of all marriages end in divorce, a prenuptial agreement is more important than ever.
You can protect your existing assets in case of a divorce and reduce the risk of entering into marriage with someone who is only interested in your income and assets. If you hope to have a positive outcome to a divorce with high assets, you absolutely want the help of an experienced divorce attorney.
Your attorney can help you make the best of a bad situation. That can include ensuring that the courts enforce your prenuptial agreement during divorce proceedings. If you don’t have a prenuptial agreement, a competent and experienced attorney is that much more important. There are other steps you can take during a divorce to reduce the financial risks and losses common to the process. Your attorney can help you during every step of the process, including planning for a divorce if you are the one who intends to file and initiate the process.
Common reasons why people don’t use prenuptial agreements
One of the biggest arguments against a prenuptial agreement is that it’s planning for the marriage to fail from the very start. Some people see this as the opposite of romantic. In a way, that is true. Executing a prenuptial agreement is practical, not romantic.
However, that doesn’t have to be the opposite of romance. Instead, it can be seen as a means for planning for your future and reducing the temptation to divorce for financial gains. Some people may take offense at prenuptial agreements, feeling like their execution is almost like an accusation of not really meaning their marriage vows.
Hopefully, with a little discussion, no one needs to feel targeted. A well-written prenuptial agreement can protect the assets and interests of both parties signing it. There can be special protections written into the prenuptial agreement that can benefit both parties. For example, if the spouse with greater assets is unfaithful, the prenuptial agreement may include a clause outlining the financial compensation to the wronged party. A prenuptial agreement can also fully outline the exact level of spousal or child support intended, should the marriage end up in divorce.
An attorney can help you create a valid prenuptial agreement
There’s nothing worse than believing you are protected by a prenuptial agreement, only to find there is some issue with the document or how it was executed that invalidates it. Don’t risk future issues with something as critical as a prenuptial agreement. If you are about to marry and need to create and execute a prenuptial agreement, do so with the help and advice of an experienced family law and divorce attorney.