Reasons to consider a prenuptial agreement before marriage

Reasons to consider a prenuptial agreement before marriage

| Apr 23, 2020 | Prenuptial agreements |

If you and your future spouse have not discussed the topic of a prenuptial agreement, it isn’t an easy one to bring up. After all, it might send a message that you’re thinking about your divorce even before your marriage.

However, prenups can be beneficial. They offer a measure of protection to both spouses in a marriage. While every couple is different and has different needs, these are some of the circumstances under which it makes sense to consider a prenup before you walk down the aisle.

If you have family money: Even if you aren’t thinking about asking your intended to sign a prenup, families with considerable assets often will insist upon it to protect an expected inheritance and/or a business.

If you bring children in to the marriage: While you can’t include child support provisions for children you might have one day in a prenuptial agreement, you can state what assets belong to your children from a previous relationship should you and your future spouse decide to divorce.

If you think you might start a business or if you already own one: Jeff Bezos and his wife didn’t have a prenup when they got married. That was long before he became the richest person in the world. His wife, Mackenzie Bezos, walked away with about $37 billion in assets in their divorce settlement.

If you want to provide for your spouse in the event of your death: A prenup can provide income to your spouse if you pass away. People with considerable assets often have their money in trusts and accounts the spouse can’t touch. You can allocate money to your spouse if that’s the case.

The reasons for a prenuptial agreement are as unique as every couple. A family law attorney can discuss with you all the pros and cons of executing such an agreement before your marriage and help you as you negotiate the prenup.