If you have assets, children, student loans, have a family business or financial obligations to others, and are planning to marry, you may benefit from learning more about what a prenuptial agreement can do to protect you, your family, and your future spouse.
As you prepare to marry, you are likely not focused on what may happen if your marriage ends, whether by divorce or death. While you may have a Will that specifies what happens to your property upon your death, you may want to define both the benefits to your spouse and limitations on the obligations of your spouse should you pass away unexpectedly.
Through a prenuptial agreement, it is also possible to protect both you and your future spouse by outlining plans that will make a divorce simpler and easier. Taking this step is not assuming the marriage will end in divorce; it is simply protecting your long-term interests.
The intent of a prenuptial agreement is to outline what will happen to your property in case of a divorce or the death of one or both parties. It is designed to minimize conflict and provides other benefits for each spouse, allowing them to enter their marriage with confidence. These agreements are beneficial for virtually any Pennsylvania couple preparing to walk down the aisle.
The benefits of this type of agreement
Some of the most common reasons why average couples choose this type of agreement before they marry include:
- Allows you to carefully document and identify separate property
- Removes the need for the court to rule regarding property distribution
- Documents any special arrangements between spouses
- Reduces the conflict in a divorce, lowering the chance that litigation is necessary
- Can establish financial procedures and responsibilities of each spouse during marriage
One of the primary benefits of a prenuptial agreement is that it can provide you with peace of mind regarding your future interests. The process of creating a prenuptial agreement can facilitate important conversations about finances that may reduce the chance of conflict and disputes during your marriage.
Not just for the rich and famous
Prenuptial agreements are not just for those who have large amounts of wealth, extensive estates or valuable property they want to protect before they marry. If you are about to be married, seeking advice about how a prenup may be a prudent addition to your premarital preparations. An assessment of your finances and other factors by an attorney experienced in drafting prenuptial agreements may give you an understanding regarding the ways a prenup can benefit and protect you and your family.