When individuals bring significant assets into a marriage, it's smart to consider the protections offered by a prenuptial agreement. There is a myriad of other factors contributing to this legal document, though, beyond that of assets.
For example, in the past, thoughts of a prenup and a divorce often occurred simultaneously. Instead, Brooklyn attorneys are using prenuptial agreements as a means of giving couples on the cusp of marriage peace of mind.
Below are just a few examples of how a prenuptial agreement can help couples have honest conversations about finances before tying the knot:
1: Helps Validate the Marriage
Unfortunately, some marriages end because one of the spouses is in it for the money. When prenuptial agreements are drafted properly, the idea of marrying someone just for the sake of obtaining their assets becomes a less likely outcome.
2: Children From a Previous Relationship
It's becoming more common for second and third marriages to occur. With subsequent marriages, children are often involved. A prenup can ensure that the interests of young children are protected. Furthermore, inheritance and other factors can be addressed by the prenup.
3: Protection of Business Assets
If you're a business owner, it's important to obtain a prenuptial agreement to protect your company's assets. Sometimes, the lawyer could draft the document to state that the spouse has no entitlement to increases in value the business experiences throughout the marriage. Another example is the prenup could state the ex-spouse has no stake in the company following a divorce.
4: Debt Protection
Oftentimes, one party may bring considerable debt to a marriage. It's important for couples to have serious conversations about debt to ensure one party doesn't get treated unfairly should the marriage end. A prenup can outline any preexisting debt and make sure it doesn't all fall on an unsuspecting spouse in the event of divorce.
A lawyer can explain all the potential benefits of drafting prenuptial agreement. With the right legal documents in place, you and your spouse can share peace of mind knowing you are both protected going forward.