In today’s world, there’s a lot of concern around what is going on in regards to marriages. When over 50% of marriages end in divorce, people want to be sure that they’re doing everything possible when it comes to protecting themselves before the vows are taken.
Because of that, there are many people that are seeking out options that will help to protect their property – and that’s why the prenuptial agreement was started. In this post, we’re going to take a closer look at what a prenuptial agreement (or prenup) is and why you may want to consider working with your Prenuptial Agreement Lawyer in Minneapolis and your spouse to put one together before your marriage.
What is a Prenuptial Agreement?
In short, a prenup is a special type of contract that is put together before you get married (as the name seems to suggest). This contract is a special sort of agreement that that can vary immensely based on the couple and what it is that they bring to the situation.
At the very least, these agreements are going to include two important things – how property and assets are going to be divided in case of a divorce, and if one spouse will need to monetarily support the other in that instance. Sometimes, other things may be included, like terms for your financial support to be forfeited and guardianship of children and/or pets.
Prenup agreements and the laws associated with them are going to differ by state, so be sure that, if you move, your prenup will still be valid. You can usually work this out with your lawyer ahead of time.
Why Consider a Prenup Agreement?
Many people (falsely) assume that prenups are only for rich people. We hear stories about high profile divorces (like Jeff Bezos’s situation) and think that we would never get into such a situation – but that couldn’t be further from the truth. The fact is, there are a lot of reasons that you may want to explore the option of getting a prenup with your future spouse.
For example, is one of you set to get an inheritance from a family member? A prenup can protect that. If you’re worried about the problems that often arise in regards to talking about finances, a prenup can open the door for you and your loved one to talk about them. If there are children from a previous marriage, you can write things in there to protect those children. And, if someone passes away, the prenup can act alongside of the will in terms of dealing with your estate.
As you can tell, there’s a lot to consider when it comes to prenuptial agreements. You want to be sure that you talk with your future spouse about your concerns and talk to a lawyer as soon as you think that this is right for you. Do some research and sort out the information that you need to know so that you can work out details and feel confident about the agreements that you decide to make.