When you think of prenuptial agreements, you may think of documents for rich people and celebrities. But the truth is that anyone can have a prenup drafted before marriage. In fact, Laura Wassner, a divorce attorney for celebrities, says that everyone who gets married should have one.
A prenuptial agreement can not only protect your assets, but also outline what will happen in the event of a divorce. For example, they can help you deal with finances and children, if applicable. Will your spouse get any assets? Will there be alimony involved? Will any special situations or procedures apply?
Millennials are especially interested in prenuptial agreements, with many people graduating college with tens of thousands of dollars in student loan debt. Understandably, many people don’t want to be burdened with their spouse’s debt, so they use a prenuptial agreement to memorialize this decision. Ideally, they will have discussed this with their future spouse before they walk down the aisle so there are no surprises.
A prenuptial agreement can detail what you and your spouse expect marriage will look like. One person may only want to get married under conditions. For example, they may not want kids, or maybe they only want to live in a certain location. Perhaps the woman wants to stay home with the kids rather than work. If there are certain situations in which a person would or would not want to be married, then they should be discussed and outlined in a prenup.
If you do decide to get a prenuptial agreement, here are some tips to consider. To bring up this topic with your partner, do so in a quiet environment. Be open and honest and listen to his or her concerns.
While it’s recommended to start the prenup process at least six months before the wedding date, some people begin even before getting engaged. Avoid getting a prenup online, as these documents are often lacking in legal formalities and may not even be valid in court. Use a lawyer, but both spouses should not use the same one. To protect your interests, get a different lawyer than your spouse to avoid conflicts of interest.
If you don’t have enough time or money to get a prenup before your wedding, not all is lost. You can still opt for a postnuptial agreement, which is done while you’re married. The cost and process are the same either way.
Prenuptial agreements are a good idea for anyone who wants to protect their assets in the event of a divorce. While such a document may not seem romantic, it makes perfect financial sense, especially since many people are getting married in life and accumulating more assets.
The Columbia divorce lawyers at the Law Offices of Todd K. Mohink, P.A. can determine if a prenup is right for you. We will assess your situation and ensure your finances and assets are protected. Schedule a free consultation by filling out the online form or calling (410) 774-5987. We have two offices to serve you.
7310 Ritchie Highway, Suite 910
Glen Burnie, MD 21061
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10440 Little Patuxent Parkway,
Columbia, MD 21044