A prenuptial agreement, shortened to just a prenup, is a legally binding contract created before marriage or a civil union which addresses issues such as division of property and alimony in case of a divorce. A prenup can also include a variety of other agreements in order to protect a spouse’s family business or other personal assets in the event of a divorce because of adultery or other irreconcilable differences.
A prenup isn’t just signed as a worst-case scenario for a marriage gone stale. The divorce rate in the United States is between 40%-50% and it is best to consider the prenup while the relationship is still at its highest point. The number one cause of a deteriorating relationship is financial problems, and a prenup can help to sort these out before they become a point of contention.
There are benefits to getting a prenup. The first is the protection of separate property and the division of assets. We have all heard stories of business owners and celebrities who lose a big portion of their estate because of a divorce. If you have a large number of assets or properties and want to make sure you keep them in the unfortunate event of a divorce, it would probably make more sense to get a prenup.
There are also some negative aspects to getting a prenup might be a precursor to a disastrous marriage. It might not be in the best interest of you or your partner if you’re planning on divorce while you are still planning a marriage. There is nothing romantic about a prenup and you might not even know the answers to any issues that may arise.
While discussing a prenup might not be a something you are looking forward to discussing with your spouse as you are trying to plan a wedding, you may want to consider it if there are assets you would like to protect. At Simonetti & Associates, we can answer all of your questions regarding prenups and divorce. Call us for a consultation today!
Voted Long Island’s Best Divorce Lawyer with over 28 years of experience in Divorce, Child Custody, Adoption, Same-sex divorce, Pre- and postnuptial agreements, Father’s rights, Separation agreements, Protection orders, and Meditation. To help keep your legal costs at a minimum, call 877-385-2560.