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Reasons to consider a prenuptial agreement

On Behalf of | Jul 7, 2022 | Family Law |

Many mistake a prenuptial agreement as a contract with a marriage’s failure as a foregone conclusion—as if planning for the worst is a self-fulfilling prophecy. The truth is that prenuptial agreements, and postnuptial agreements later on, provide a great chance for couples to communicate about their lives before and their futures ahead.

As CNBC explains, a prenuptial agreement helps outline your finances beforehand and may help to protect your assets before and during the relationship, should the marriage fail to work out. There are many situations where it may help strengthen your relationship by considering them.

If you already have children

You have the chance to establish agreements that protect the financial interests of any children you or your spouse have from previous relationships. This may be through keeping certain property separate or by creating a living trust for them.

If you have known inheritances

A prenuptial agreement can include stipulations for receiving your inheritance so as to avoid an unintentional transmutation—whether that means by creating a separate account or by joining it into the marriage.

If there is a wealth disparity

You or your spouse may enter into the marriage with a high amount of wealth or debt and maintaining a separation of those accounts may help. Another situation may be that you or your spouse intends to be a stay-at-home parent. A prenuptial agreement may help provide security in case of a divorce.

One of the highest hurdles of international marriages is making sure that all agreements are extremely clear in all relevant languages. You may wish to learn more about your specific, international case before entering any legal contract.