When you hear the phrase “prenuptial agreement,” many of us think about celebrities, their brief marriages, and often costly public divorces. But prenuptial agreements actually serve a very real purpose for all of us who are considering entering into matrimony: protecting assets in the event of a divorce. If you’re planning to tie the knot anytime soon, here are several reasons why you should consider drafting and signing a prenuptial agreement before the big day.
Helps to Separate Debts
Marriage is the joining of two individuals, and debt that was accrued in the past shouldn’t necessarily become the responsibility of your new partner – and vice verse. A well-defined prenup will establish exactly which debts are assigned to which party, defining properly liability throughout the marriage and in the case of divorce.
Protect Your Property
Just like debt, individuals, especially in later-in-life marriages, often bring separate properties to a marriage including things like houses and cars. For many, establishing who these things belong to before marriage can offer the chance at a comforting and worry-free union, and the peace of mind that comes with the well-established assignment of properties. A prenuptial agreement can also define future communal property, or any special arrangements that you and your spouse might want to make.
Saves You the Headache (and Cost) of a Long Divorce
No one enters into a marriage hoping for or expecting a divorce, but the reality is that many of us will one day face that unfortunate situation. With a properly executed prenuptial agreement, couples can keep their divorces cordial and quick – avoiding the stress that comes with a long legal battle, as well as the hefty price tag.
Preparing for marriage is an exciting and often anxiety provoking time – and one that should only be entered into with careful consideration. If you’re considering a prenuptial agreement before getting married, the counsel of a lawyer can be invaluable. Lucé Evans Law is ready to help. Call (972) 632-1300 now or visit our contact page to get started.