Friday, March 9, 2018

Reasons to Sign a Prenuptial Agreement

Marriage is an exciting time for many couples. It's a legal contract between two parties, creating a union of the two. While there are many tasks to be completed when planning a wedding, a prenuptial agreement may be far from your list of things to do - but it shouldn't be. A prenup - or prenuptial agreement - addresses the financial situation should the marriage dissolve. It's not a fun thing to think or talk about as your marriage is just getting started - but it is a helpful document, should you need it. Our Lake of the Ozarks law firm can help you and your future spouse put together a prenup so you can move forward with confidence. Take a look below to learn just a few of the reasons why a prenuptial agreement may be right for you and your marriage circumstances.

One of you has more money.

If you or your partner has substantially more money than the other, a prenup can help to protect your assets. This can also help ensure that someone is not marrying you for your money, and for who you are. It's important to protect your assets when you enter into a marriage.

Your or your spouse plan to stop working.

If you plan to quit your job to start raising children, it can impact your income in a major way. A prenup can help to ensure that the financial burden of raising the children is shared fairly by both partners.

Someone has a substantial amount of debt.

When you marry someone, you can be partially responsible for their financial debt. If your marriage ends, you may be stuck with part of this debt load, even if you did not help accrue it. A prenup can help to make sure you are not burdened with debt that is not yours.

The divorce rate.

About half of all marriages end up in divorce. This is a staggering statistic and it's best to be prepared for the future. A prenuptial agreement can help to protect you and your assets, as well as your spouses', should your marriage end in divorce.

You are a business owner.

Your ex-spouse could end up owning part of your business if a prenup is not signed when you get married. Help to protect your business and help to prevent a spouse from becoming a part owner in your business.

This is the second marriage.

Children, support obligations, and a home with a previous spouse can all affect your second marriage. It's important to protect your assets and help to make sure your financial burdens stay your own if your next marriage does not work out.

Help avoid a stressful situation if you do divorce.

A prenup can have all assets, debts, and other factors split up before you even enter into marriage. This can help to fairly disperse all belongings and make the divorce process less-stressful.

It's a smart move.

To best protect you and your spouses' assets, a prenuptial agreement is the way to go. For a financially smart move, consider having you and your partner both sign a prenup, before you get married.

Now that you've learned about some of the reasons why a prenuptial agreement may be right for you and your future spouse, you are ready to take action. If you want to put together a prenup, it's important to discuss this with your soon-to-be husband or wife. Don't spring it on them at the last minute. Have an open and honest discussion about the reasoning behind your wish to sign a prenup. This can help to show why this can be of benefit to both parties and get you both on board for the agreement. If you are ready to get a prenup put together, contact Gibbons Law Firm today. We can help put together an agreement for you and your future spouse. Remember, your first consultation with our family lawyer at the Lake of the Ozarks is always FREE!

Remember, your initial consultation with Gibbons Law Firm is always free.

Your Trusted Legal Resource

Gibbons Law Firm
2820 Bagnell Dam Blvd, Suite B4
Lake Ozark, MO 65049
(573) 348-2211

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