Do You Need a Premarital Agreement?

Do You Need a Premarital Agreement?

While any soon-to-be-married couple could benefit from a premarital agreement, some couples need one more than others. These agreements allocate each spouses’ rights and obligations regarding property and other financial issues, both during the marriage and in the event of a divorce.

One of the major benefits of a premarital agreement is peace of mind. You don’t have to wonder how financial matters will affect your marriage or what will happen if one spouse dies or a separation occurs.

Couples with the following situations should strongly consider getting a premarital agreement:

The Financial Stakes of a Divorce Are High

If you or your spouse owns significant assets, a premarital agreement is essential to protect both of your financial interests. This is particularly true when there is a large wealth disparity between the spouses.

You may want to decide how property will be divided during a potential divorce and whether the dependent spouse has a right to receive alimony. These are difficult matters to discuss with your future spouse, but it’s better to talk about them now than to wait until after your divorce. You can avoid extra legal costs and gain a feeling of security by addressing these matters before your marriage.

You Have Children From a Previous Marriage

A premarital agreement can be viewed as part of your estate plan if you have assets that you would like to bequest to your children. You can minimize the risk of a potential dispute between your new spouse and your children by clearly stating your wishes in your will and creating a premarital agreement that reinforces those wishes.

You want to make sure that your children are cared for, either in the case of a divorce or if you pass away before your spouse. A prenuptial agreement can settle these matters definitely, while also giving your spouse peace of mind about their financial future.

You’ve Already Gone Through a Divorce

If you have already gone through one divorce, you may have learned from your mistakes and want to avoid the stress of another contentious divorce case. A premarital agreement can settle your financial issues ahead of time, so you won’t have to fight your case in court or deal with the uncertainty of litigation.

Any couple can benefit from the feeling of security that comes with a properly drafted premarital agreement. Consult your family law attorney if you want to create a contract that will protect the financial interests of you and your spouse.

The lawyers at King Law can help you through the difficult process of separation, divorce, and child custody. We invite you to come in and talk with one of our family law attorneys during an in-person consultation. Our number is 888-748-KING (5464).