Protection in the Event of Divorce
What’s in this Article?
One of the primary benefits of getting a prenuptial agreement is that it can protect you in the event of a divorce. If you have a prenup in place, you and your spouse will have already agreed on how to divide your assets in the event of a divorce. This can save you a great deal of time, money, and stress in the event that your marriage does not work out.
Without a prenuptial agreement, your assets would be subject to equitable distribution, which means they would be divided between you and your spouse based on a number of factors, including each spouse’s income and contribution to the marriage.
Protection for Your Business
If you own a business, a prenuptial agreement can also help to protect it in the event of a divorce. Without a prenup, your business may be considered to be part of your marital assets and could be divided between you and your spouse in the event of a divorce. However, if you have a marriage contract in place, you can specify that your business is to remain separate from your marital assets.
Protection for Your Children
If you have children from a previous relationship, a prenuptial agreement can help to protect their interests as well. If you have children from a previous relationship, a prenup can help to provide for them financially in the event of your death or divorce. Without a prenuptial agreement, your children would likely receive nothing from your estate if you were to divorced or pass away. However, if you have a prenup in place, you can specify that your children will still inherit their share of your assets even if you were to divorce their other parent.
Peace of Mind
If you have a premarital contract, it can help to prevent disputes in the event of a divorce. Without a prenuptial agreement, you and your spouse would have to agree on how to divide your assets and debts, which can often be a source of contention.
Another benefit of getting a prenuptial agreement is that it can provide you with peace of mind. If you are worried about what would happen to your assets in the event of a divorce, a prenuptial agreement can help to put your mind at ease. Knowing that your assets are protected can help you to relax and enjoy your marriage without worrying about what might happen down the road.
It’s Not Just for the Rich and Famous!
Contrary to popular belief, prenuptial agreements are not just for the rich and famous. Anyone who is getting married can benefit from having a prenuptial agreement in place. Whether you are wealthy or not, getting a prenuptial agreement can help to protect your interests in the event of a divorce.
If you’re interested in learning about how a Prenuptial Agreement can benefit you, give the professional attorneys at The Narrows Law Group a call today!