Understanding The Benefits Of Prenuptial Agreements
When preparing for a wedding, the idea of planning for a future that doesn’t end “happily ever after” isn’t on their list of things to do before they exchange vows. However, there are many benefits to being prepared for a scenario in which you and your spouse need to separate your assets.
At Lake • Toback • DiDomenico, we help clients establish prenuptial agreements that allow them to enter their marriage armed with information and peace of mind. When drafting a prenup, it is vital to work with a qualified attorney who can validly execute the agreement. Following are some common questions about premarital agreements our clients ask:
Does getting a prenup mean I don’t care if my marriage lasts?
Creating a prenup doesn’t mean you’re planning for the marriage to end before it begins, or you don’t care about the relationship. It shows you care enough for one another you want to reduce potential conflict. If the marriage ends, it might allow you to separate your finances on friendly terms and reduce animosity during divorce proceedings.
If I trust my future spouse, why should I get a prenup?
Creating a prenup requires both parties to be upfront about their finances before entering a marriage. Money can be a difficult topic for couples to broach. A transparent discussion about finances before the wedding can reduce the friction some couples experience later. Open communication about finances can build trust between partners rather than diminish it.
Is a prenup beneficial if neither spouse is wealthy?
While it’s true prenuptial agreements are more common among couples who are well-to-do, anyone who enters a marriage with personal assets would benefit from a prenup. Additionally, there are a variety of terms well-crafted agreement can include, such as:
- Division of credit card debt
- Protecting future inheritances
- Spousal support
- Division of investments and businesses
Though a prenuptial agreement cannot address visitation and custody issues, it can eliminate the stress of making a variety of difficult decisions in the emotional cloud that comes with divorce.
Prepare For Whatever The Future Holds
Our experienced family law attorneys help couples from all walks of life prepare for their future. If you have questions about prenuptial agreements, we’re happy to discuss them with you. To contact our attorneys at Lake • Toback • DiDomenico, call 312-288-8985 or contact us by email.