When Prenuptial Agreements Are the Smart Way to Go

by | Feb 3, 2015 | Lawyers

Prenuptial agreements are a bit of a controversial subject. Some people believe that they go against the code of ethics and morals that are supposed to accompany marriage. Others believe they are completely logical and necessary when getting married. The majority of the truth probably lies somewhere in between, but there are some things to look at with Prenuptial Agreements that have pretty long-lasting effects.

What is a prenuptial?

A prenuptial agreement, commonly known as a prenuptial, is an agreement between a soon to be married couple that their finances are protected in case of divorce. Now prenuptial can take many forms. For one, it could universally apply on both ends. This means that any assets that one individual brings to the marriage is completely owned by them in the case of a divorce. There are some makes prenuptial agreements that could intermingle these extremes with part ownership in some areas or exclusivity in others. They could also have a time frame on them.

When should it be considered?

A prenuptial is more common with couples that are bringing over $200,000 in assets to the table. In cases under that amount, the divorce sentiments are usually pretty fair and slanted towards the individual that brought in that asset. A prenuptial agreement is also important if there any children involved. There may be assets that they are entitled to as they come of age. The same logic applies if there any assets that could be earned as an heir from a passing family member.

How do they work in law?

An official law office will take care of the prenuptial agreements between both parties. Everything is outlined in detail, and notarized with these professional lawyers. Prenuptials are integrally tied to the financial track record as well as the financial expectations moving forward. Review it in detail with a lawyer who approves and finalizes the paperwork.

This article should open up with a disclaimer that a prenuptial agreement is a subjective choice. There are pros and cons to going forward with one, so always speak with a professional at The Law Offices Of Diane M Sternlieb LLC to see if it is the right fit. prenuptial differ by the situation.

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