Prenuptial Agreements: Not Just For The Super Wealthy
For many divorcing couples in and around Queens, NY, the phrase prenuptial agreement generates images of celebrity marriages gone awry. However, prenuptial and postnuptial agreements are not tools reserved solely for the ultra-rich (although, they are often used by the upper economic echelon of society). In fact, prenuptial agreements are for anyone with assets or a business they want to protect, just in case. Some of the benefits of creating a prenuptial agreement are:
- Marry with confidence: Marriage brings with it a level of uncertainty. By creating a prenuptial agreement, you are able to lay out the obligations and responsibilities of you and your spouse before you begin your life together.
- Protect assets and property: The most common reason people get prenups is to protect certain assets and properties acquired before the marriage.
- Debt protection: If your spouse has a substantial amount of debt, a prenup can protect your assets and prevent them from being used to satisfy that debt.
- Protect a family business: If you own part of a family business, you may want to create a prenuptial agreement to protect your portion of the company, in case you and your spouse divorce.
- Minimize contention in divorce: In the event that your marriage doesn’t work out, a sound prenuptial agreement can minimize the hostility and contention experienced during your divorce.
As time passes, more and more couples come to realize the benefits that prenups have to offer. If you are curious about whether a prenuptial agreement is right for you and your fiancé, contact an experienced family law attorney who can explain in greater depth what a prenup covers.