Nearly half of all marriages in the United States end in divorce. It is perfectly acceptable for you to believe that your future marriage will defy the odds. However, you nevertheless should to be prepared in case of dissolution. Executing a prenuptial agreement with your significant other is nothing to be embarrassed about! Matter-of-fact, a prenuptial agreement is merely a way for you and your intended spouse to set expectations and eliminate future potential conflicts.
Should I Have a Prenuptial Agreement?
A prenuptial agreement is something that could benefit any marriage. But there are certainly situations where we would advise even more strongly in favor of an agreement, including:
- Second or third marriages, especially if there are children from previous marriages;
- Marriages in which someone holds significant debts or assets;
- Marriages in which the spouses are elderly or have serious health concerns;
- Marriages in which either or both of the spouses is engaged in a financially risky profession;
- Marriages in which someone has accumulated significant debts or assets;
- Marriages in which either or both of the spouses becomes or plans to become engaged in a financially risky profession.
What Areas Does a Prenuptial Agreement Cover?
A prenuptial agreement allows you to decide how marital property will be characterized during marriage and how it will be divided upon divorce. Prenuptial agreements generally cover issues such as alimony, spousal maintenance, accumulation of community property during marriage, partition of real property, and much more.
It’s far superior to decide on highly-contested property matters prior to marriage, rather than during the divorce process. If you are considering this kind of protection but are afraid to speak with your significant other, call Myres & Associates, PLLC today to arrange your consultation! Our experienced attorneys may be able to help ease your significant other’s concerns and doubts.