Reasons To Consider a Prenuptial Agreement
Family Lawyer in Rockville, MD
Many couples may be reluctant to consider entering into a prenuptial agreement before they marry. It may seem like a vote of no-confidence in its success, an admission of failure before the marriage has even begun.
However, there are many reasons that responsible adults may choose to enter into a prenuptial agreement. Rather than thinking of it as a vote of no-confidence, regard it instead as an insurance policy, an extra layer of protection that you obtain to protect you if the worst should happen, with the hope that you’ll never need it.
Here are some specific reasons to consider a postnuptial agreement.
1. Debt Ownership
It’s not just financial assets that you share with your spouse in a divorce, it is any financial liabilities as well. If either you or your future spouse come to the marriage with significant debt, a prenuptial agreement can ensure that the person who incurred the debt in the first place is responsible for paying it should the debt outlast the marriage.
2. Children From Previous Relationships
Should a divorce take place in the future, it is inevitable that it will affect any children that you have now or that come along later. This includes children from a previous relationship. A prenuptial agreement can make sure that stepchildren receive the inheritance that they are entitled to following the death of their biological parent.
3. Partial or Complete Business Ownership
If you own a business, whether in whole or in part, a prenuptial agreement can help protect your share of the profits. Without a prenup, your ex-spouse may have an equal share in your business profits, even if he or she played no part in the ownership and management of the company.
4. Peace of Mind
Far from destroying the marriage before it even takes place, a prenuptial agreement can help both you and your spouse know exactly where you stand. Taking steps to delineate what is “yours, mine, and ours” before the wedding takes place may help to defuse future disagreements down the line. In this way, a prenup may help to actually strengthen the marriage rather than weaken it. Even if the marriage fails further down the line, at least you’ll know that your interests are protected if the unintended should happen.
A prenuptial agreement may have a lot to offer, but that doesn’t mean that it is right for everybody. A family lawyer in Rockville, MD can help you assess your situation and determine if a prenup would be beneficial. Contact a law office to make an appointment or for more information.
Contact the Law Office of Daniel J. Wright for their insight into family law and reasons to consider a prenuptial agreement.