With September usually comes the sense of new beginnings-back to school, back to sports, and for many-time to tie the knot! While it can be daunting to plan a wedding, it is important to keep in mind what your long-term priorities are. Do you want to make sure that you will be financially sound? Are you reviewing your benefits during open enrollment? Part of that process (if you are getting married) should be to draft a pre-nuptial agreement. Many couples even opt for a post-nuptial agreement and often consider that during the time in which they renew their benefits with work.
First-what can a pre-nuptial agreement do? It can help to protect your assets if you should divorce your spouse and, it can help protect your steam of income if you can eliminate the concern for alimony payments. What can’t a pre-nup do? It cannot protect your estate. You will still need an estate plan. It also cannot provide for custody arrangements if you have children-that is a bridge you would need to cross if and when you get to it.
Second-what can a post-nuptial agreement do? It can also help to protect your assets if you should divorce your spouse. Post-up agreements are commonly used when a party individually buys a property during the marriage that they want to remain solely theirs. What can’t a post-nup do? It cannot be retroactive to the date of your marriage.
If you are concerned about protecting your assets in the future, you should consult with an attorney and see if a pre-nup, or a post-nup, makes sense for you. There is often still a negative connotation with pre-nups, but it is important for both parties to realize that they would be mutually protected, as a pre-nup could actually be considered invalid if it was too “one-sided.”
Ever argue with a woman? Let Wolf & Shore Law Group go to work for you and help protect your future. Click here, call us at 203.745.315, or email us at info@wolfandshorelaw.com.
