While planning for your wedding, you are unlikely to think about visiting a family law firm. Things like picking out the right venue for the reception, finding the right dress, or taste testing your way through catering companies are far more enjoyable. This is an exciting day and I understand the need to prepare for it. From my perspective, however, your wedding is a day that has legal implications extending far beyond the joy of the actual occasion. At my family law firm, my job is to protect you and your family’s legal future. I can do that if you visit my office before saying “I do”.
Why You Should Consider a Prenuptial Agreement
Many people make the mistake of thinking that only extremely wealthy people need to sign a prenup. This is simply not the case. While those with more assets tend to think about how to preserve them, everyone should do the same. Whether you are each coming into the marriage with significant investments or you have homes and small retirement plans, you still need to plan ahead. The unfortunate reality is that around half of all marriages end in divorce. While I hope that you will live happily ever after, you have to ask yourself what would happen if you didn’t. Would you be prepared? Would your divorce go smoothly or would it wreck you both emotionally and financially? These are the things that I think about and can help you to prepare for. I can craft the documents for you to sign so that you can get married feeling relaxed and positive about the future, rather than being consumed by the “what if’s”.
What a Prenuptial Agreement Can Cover
I can craft your agreement to include anything that you need it to. It is fully customizable to your particular situation. Typically, however, this agreement will start by listing out the assets and debts that you both currently have. For example, if you have a retirement account, a primary residence, and furniture – I would list them. If your soon-to-be spouse has a trust fund and two rental properties – I would list them. Once I have identified all of the current assets you own individually, I can discuss what should happen to them. In most cases, people will designate that these are separately owned assets and that during a divorce each party would maintain full ownership of those assets.
Next, I will look at what would happen to your finances if you were to get a divorce. At my family law firm, I find that some couples want to clarify this from the beginning, particularly if one spouse is working while the other spouse stays home. For the person earning income, this ensures that there is no surprise alimony or huge child support awards in the future. For the spouse staying home, this ensures that they would receive some level of support and assets. While it may seem strange, a prenuptial agreement is actually one of the best ways to make sure that things are fair in a divorce. Since you are signing this agreement while you are happily in love, you are far more likely to be kind to each other.
For help, call my family law firm today. I can assist you with all of your legal needs, including estate planning and even personal injury claims.
NOTE: This is for informational purposes only and does not constitute legal advice.