The benefits of prenuptial agreements
Jan 25 2017 - Posted by On Behalf of the Lincoln Law Firm, PPLC, in Prenuptial Agreement, Tagged in Prenuptial Agreement
Prenuptial agreements have many different benefits, including the protection of assets but they have many other helpful advantages as well. In general, prenuptial agreements outline property rights before marriage. There are many misunderstandings associated with prenuptial agreements and their benefits so it is helpful to have a good idea of the ways they can help couples in a variety of different situations.
Prenuptials agreements are useful for the protection of one party’s assets; for protection against one party’s debts; for determining how property will be passed upon death or divided upon divorce; and to enumerate financial responsibilities during the marriage. Without a valid prenuptial agreement, it is important to keep in mind that property will be divided according to state laws upon divorce which may create different outcomes than what the couple wishes and can also lead to costly divorce disputes.
Though prenuptial agreements can be tailored to the needs of the particular couple, there are certain requirements that must be met for a prenuptial agreement to be considered valid. It is important to be familiar with those requirements in the couple’s state and to ensure the prenuptial agreement is executed according to those requirements. Generally, though, there are requirements associated with the guidance the couple, and each of the parties, receives, the timing and execution of the prenuptial agreement.
Prenuptial agreements are a useful tool for many couples entering a marriage to consider. It is always worth their time to make certain they are educated concerning prenuptial agreements, what they do and what a prenuptial agreement can do for them.
Source: Family.findlaw.com, “Can Prenuptial Agreements Help You?” Accessed Dec. 29, 2016
