If you are considering marriage, it makes sense to protect your interests and assets before you are legally joined in matrimony. Unfortunately, statistics show that 50% of marriages will end in divorce. Hopefully you will fall within the 50% of marriages that succeed, however it is never a bad thing to protect yourself against a divorce.A prenuptial agreement is a written contract entered into by two parties prior to marriage in order to govern their respective rights regarding the possession of assets, treatment of future earnings and potential division if the marriage is later dissolved.
Who should consider a prenuptial agreement?
Prenuptial agreements offer legal protections to everyday people of modest means as well as wealthy individuals. Prenuptial agreements should be strongly considered by:
- Individuals entering into a second marriage
- Individuals with children
- Persons with substantial real estate holdings
- Individuals with high incomes
- Persons expecting to receive potential inheritance
- Couples where one partner has considerable debt
- Individuals who own a business or have a significant interest in a business