Getting engaged to the love of your life is one of the most excited things that can happen to a person. However, while you plan to find the right flowers, venue, and multiple other preparations, you may be forgetting to consider the legal implications that come with two people joining their lives together. As a lawyer, however, we have seen how these things work out should you not consider these legal obligations before you say “I do”. Therefore, we would suggest you think about whether or not a prenuptial agreement is right for you and your future spouse.
What is a prenuptial agreement?
A prenup is an agreement drawn up in a contract that both member of an impending marriage sign before they are wed. This contract is used to legally enforce a plan for how these spouses will hypothetically divide assets should they decide to divorce in the future. There are also often provisions that outline what would have in the case of a separation or death.
Most frequently these agreements are centered around the division of property as well as personal property (bank accounts, furniture, etc).
Should you be considering a prenuptial agreement?
If you find yourself in any of the following scenarios before your nuptials, you may want to consider having a prenup drawn up by an attorney.
- One or both spouses are entering the marriage with extreme debt.
- One or both spouses are entering the marriage with valuable personal property.
- One spouse is much wealthier than the other.
- One spouse is much poorer than the other.
- One or both spouses have been married before.
- One or both spouses already have children.
Prenuptial agreements are meant to protect those individuals who are getting married, as well as their property. Many people find that they are uncomfortable with having a prenuptial agreement because it insinuates that the marriage is going to fail before it even begins. However, this is not the way to think about it. Prenuptial agreements only exist as a precautionary measure. It’s almost like a warranty for everything you own and worked for before you met your spouse. No one signs a prenup with the intention of getting divorced but instead they sign a prenup to ensure that no matter what occurs in the marriage that they will be okay with or without their spouse. Let’s be honest, everyone knows that some marriages just simply do not work out. As unfortunate as it is, you need to be able to ensure that your assets are protected if you happen to be one of the couples that simply does not make it. Lucky for you, the right attorney can make sure you get everything in order before your wedding day.
If you recently got engaged and are considering getting a prenuptial agreement, you may want to talk to an attorney first, just to understand the legalities concerned with the process. Contact Pavithran Law today and let us help you decide if a prenup is the right choice for you and your future spouse.