With wedding season coming up, a prenuptial agreement can be a helpful tool for you and your spouse to use in arranging your financial futures, before you take your vows. A prenuptial agreement (or “prenup”) is a contract that is worked between both parties to a marriage before they are married, describing the outcomes of the marriage in the event of a divorce or death. A prenuptial agreement can save you some of the stress and shouting matches that come with the unpleasantness of a divorce if it occurs.
HERE ARE SOME OF THE REASONS WHY A PRENUPTIAL AGREEMENT IS A GOOD IDEA:
Save Your Spouse from the Burden of Your Debts
Prenups are becoming increasingly popular with today’s millennial couples, as couples are going into marriage with student loan and credit card debt that they don’t want to impose on their future spouse. Having the agreement will prevent your spouse from being held liable to pay off debt that you acquired before the marriage.
Expectations are Discussed in Advance
Despite this being one of those conversations you may want to avoid due to fear of distrust, its important to discuss your expectations with regard to planning each of your individual financial futures. Things such as alimony can be arranged in advance by either waiving or designating how much alimony one party shall provide to the other. For the well being of your assets, it is best to have the uncomfortable conversation now rather than during a divorce.
Your Children will Not be Affected
For people with children from previous marriages, having a prenuptial agreement in will keep your children’s inheritance in place, which will leave your spouse to access it in the event of a divorce. Assets Separate or Make Arrangements for Distributing Wealth assets acquired before marriage, it will save you stress by keeping whatever you as a single person separate from the marriage. If you have any assets that would like to keep, it is best to have the agreement in place rather than risk your spouse make a claim for it in the divorce. You can also arrange for any or assets obtained during the marriage to be distributed between you and spouse to keep things fair.
Call us today to schedule a free consultation with Ms. Nina Jafari, at +1 (714) 546 4600
We will work with to create a prenup that meets your needs.