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The many benefits of a prenuptial agreement

Prenuptial agreements are associated oftentimes with celebrities and the wealthy in the minds of many but prenuptial agreements offer some basic benefits to any couple. Prenuptial agreements are useful tools for any couple bringing personal and business assets into a marriage. Prenuptial agreements can be helpful to outline the expectations of the couple and can help in the event of divorce so that divorcing couple knows what to expect from the property division process which can save time, money and acrimony should the couple decide to divorce at some point.

Prenuptial agreements can outline the property that each spouse enters the marriage with which is considered separate property and is not subject to division if the couple divorces. A prenuptial agreement can also specify which additional income or additional business or other assets will be shared. Any inheritance assets are typically considered separate property and are not subject to division. Many assets become comingled following a marriage so a prenuptial agreement can help designate property according to the couple's wishes.

Without a prenuptial agreement, the couple's property will be divided according to state laws should they divorce. A prenuptial agreement will likely reflect the wishes of the couple more than state laws. In general, prenuptial agreements give couples more control over their assets and the division of assets and can even be used to protect children from a previous marriage.

Prenuptial agreements must meet important legal requirements so it is necessary for couples considering a prenuptial agreement to be familiar with what the requirements are to ensure the creation of a valid prenuptial agreement. Prenuptial agreements have many important uses that couples contemplating marriage should be familiar with before they rule one out.

Source: Bankrate.com, "Why engaged couples should sign a prenuptial," Robert Digiacomo, Aug. 19, 2011

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20120 Route 19, Suite 208
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