It is sometimes assumed that when discussing prenuptials, it is a sign of doubt about the marriage or the relationship. But that is not necessarily what the purpose of prenuptials is. While it is true that over half of all marriages end in divorce, as divorce attorneys in central Missouri we do believe in hoping for the best but preparing for the worst. But we also know that prenuptials can actually remove some of the fear of the unknown and take stress off the relationship, especially regarding things like children from a previous marriage, estate planning, etc. If you are planning to get married and curious as to whether prenuptials are a good idea for you, Gibbons Law Firm is here to help. Whether or not you should have prenuptials depends on your individual circumstances. Our attorneys in Lake Ozark would be happy to sit down with you for a free consultation to help you understand what your risks and options are. If you’d like to learn about five situations where prenuptials may be a helpful thing, we think you will find this blog informative.
Blended families
If you have children from a previous marriage, it may be important to have a prenuptial agreement to protect their interests. For instance, there may be family heirlooms and sentimental items from your side of the family that your fiancé‘s children will have no interest in because they are from people that those kids are not related. They may not have a lot of value, but they may mean a lot to your children. Having a prenuptial agreement can specify where your assets will go if you were to pass away. If you would like advice on how to look out for your children as you get married, our lawyers in central Missouri have the experience to help you make an informed decision.
Business owners
If you own your own business and have put years of your life into establishing your reputation and creating a livelihood for yourself, a prenuptial can make the decision to get married much less intimidating. If you have a business partner, that is not your spouse to be, they may have a critical interest in prenuptials to secure their business partnership with you as well.
Inheritance or Retirement
If you have a loved one or a family member that you believe is likely to leave you a significant inheritance but would only want to include your fiancé if the two of you were still married, then a prenuptial would make sense. It is a way of protecting the wishes of the person who would want to leave you that inheritance. The same applies to your retirement. You may be fully willing to share your retirement with your spouse … but not if they become your ex.
Income
Do you earn significantly more than your fiancé? While you may wholeheartedly bring all of your financial assets to the marriage, how would you feel about sharing your financial assets for the rest of your life if the two of you are not together? Are you prepared to pay alimony if necessary? In order to help safeguard yourself from that possibility, a prenuptial agreement is worth considering.
Debt
Is your fiancé bringing a huge amount of debt to the marriage? Do you want to take on financial and legal responsibility for debt that you did not create? Are you willing to pay for that debt even if you and your fiancé are no longer together? That may be the risk you’re taking without a formal prenuptial agreement. If you have concerns, our mid-Missouri divorce attorneys are here to answer your questions.
If You Have Questions, Gibbons Law Firm Has Answers!
As you can tell, the question of prenuptial agreements has much more to do with your individual situation than your thoughts about the marriage. It completely depends on your circumstances and your risk tolerance. No one can tell you whether you should or should not get prenuptials. That is something only you can decide. But if you have questions and would like informative answers to help make your decision, Gibbons Law Firm is willing to sit down with you for a free initial consultation. We urge you to call us today to get scheduled. If you’d like to stay in touch and hear all the latest tips and information from our law firm, be sure to follow us on social media using the handy links below.
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