Many people don’t think about the legal aspects of getting married. If you were going to have a business partnership, you wouldn’t think twice about having a contract that outlined what would happen if you dissolve the business partnership. But even though over half of all marriages end in divorce, some people are hesitant to think about why prenuptials could be a good idea. They can potentially take a lot of uncertainty and pressure off the couple getting married. They can also provide more security for kids you may have from a prior marriage. You are the only one that can make the decision on whether prenuptials are right for you. That is why it’s good have an understanding of when they might apply to your circumstances. If you’d like to hear five common reasons when prenuptials can be beneficial, keep reading his blog.
1) Kids
Prenuptials may make sense if you have children from a previous marriage. There may be things that have been passed down through generations in your family to which your children have sentimental attachment. But they will have no value to your fiancé‘s children. By having a prenuptial agreement you can look out for your children’s interests and make them feel more protected and comfortable with you remarrying. Our attorneys in mid-Missouri are able to provide the information you need to make the best decision for you and your kids.
2) Debt
If your fiancé has a large debt burden that you do not want to be responsible for if you are not married, prenuptials might be the answer. If you are not comfortable being responsible for debt that you did not create, especially if you and your fiancé are no longer together, talk to our family law attorneys at Lake of the Ozarks to learn more about getting a formal prenuptial agreement.
3) Business
If you own your own business you might have a good reason to consider a prenuptial. After all, you have put your all into it building a name for yourself, establishing a clientele, and creating a livelihood for yourself from the ground up. If you have business partners other than your spouse, they may want you to have a prenuptial as well, in order to protect their business interest with you.
4) Income
If your income is significantly higher than your fiancé’s, it might make sense to have a prenuptial agreement. You have every reason to share your assets fully with your spouse. But if you are not together anymore, would you be fine with paying alimony if required to? It might be worth taking the time for a free consultation with our lawyers in Lake Ozark to learn more about prenuptial agreements in mid-Missouri.
5) Inheritance/Retirement
Do you have a retirement or a potentially significant inheritance? Then prenuptials could be a good idea for you. Obviously you would want your future spouse to benefit from your retirement or inheritance as a married couple, but would you want to share it with them if you were no longer together? Would the loved one leaving in the inheritance want part of it to go to them if they were no longer with you, or would they rather it go to you or your children?
Making an Informed Decision
Whether or not to get prenuptials is a decision only you can make. But it’s good to have the facts when making such an important decision. It has a lot to do with your individual circumstances and your personal risk tolerance. If you would like to sit down for a free initial consultation, we would be happy to look into your circumstances and give you the information you need to make a more informed decision. Just call (573) 348-2211 to schedule your appointment. We also will be posting additional helpful information to our social media channels regularly. If you’d like to stay in touch with Gibbons Law Firm, be sure to follow us on your favorite platform using the links below.
Remember, your initial consultation with Gibbons Law Firm is always free.
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