That’s a question that may people ask themselves while planning for a wedding. The answer is simple-to protect any pre-marital assets that you may have. That leads to the next question: What is a pre-marital asset? A pre-marital asset is any asset that you own (solely, or jointly, for example, an interest you have in a business, a retirement account, etc.), prior to the date of marriage. If you and your soon-to-be spouse want to protect any assets that you are each bringing into the marriage, you should speak with an attorney about the benefits of drafting a prenuptial agreement.
But if I have a pre-nup, doesn’t that mean I’m planning to get a divorce? No, not at all. It is true that a pre-nup is generally only used if a divorce, legal separation, or other court action occurs. However, having a pre-nup is simply preparing yourself for a “what if” situation. It also may touch on inheritance issues, and basic intent for an estate plan. The majority of couples who draft prenuptial agreements actually remain married. Then what’s the point of it? Well, if a divorce were to occur, each person would have their assets protected. However, what’s more important is that each party gets to go into the marriage with peace of mind. A prenuptial agreement lays the cards on the table, so to speak, and provides each party with the knowledge that the other person has fully disclosed his or her assets and liabilities. We have heard from many clients that this peace of mind makes the rest of the wedding planing easy and it allows their marriage to start off on the right foot-with honesty.
If you think that a pre-nup may be a good idea for you, please contact us for a free phone consultation. We hope to hear from you soon.
