Protecting Your Financial Interests With Prenuptial Agreements
When a marriage ends, a couple can find themselves in front of a judge because of a contested divorce based on the division of assets or spousal support when they could have protected themselves before the marriage began. It is hard for people to consider prenuptial agreements because of the false stigma associated with them. When many people become engaged, it is difficult to imagine a future in which the relationship doesn’t work.
Unfortunately, over 50% of marriage end in divorce. Most people have assets they would like to protect, no matter how small. Once a couple trades vows, many assets that were once separate property have the potential to become marital property. For those who are high net worth individuals and those who own businesses, prenuptial agreements are quite important to consider.
If you have assets you wish to be protected, you should speak to an attorney about a prenuptial agreement. If you are being asked to sign a prenup, you should also speak with an experienced lawyer. The Law Office of Toby Grabelle, LLC, in Red Bank can protect your rights and interests. To learn more about how we can help protect your financial future, contact us online or by phone at 732-582-5061.
What Is A Prenuptial Agreement?
A prenuptial agreement is a legally binding document that establishes what happens to assets after a divorce, separation, or death. Regarding divorce, a prenuptial agreement can help couples avoid the pitfalls of litigation. This binding document is drafted and implemented before vows are exchanged. Prenuptial agreement cannot have any language related to child support or child custody. A valid prenuptial agreement:
- Must be written
- Must be voluntary
- Must include a full financial disclosure
- Must be notarized
- Must be fair and just
Why Should I Get A Prenuptial Agreement?
As stated above, a prenuptial agreement can avoid a lot of trouble that stems from a litigated divorce. Though people do not want to think about the end of a marriage before it starts, marriage makes many important assets vulnerable to equitable distribution. Some of the people that can particularly benefit from a prenuptial agreement are high net worth individuals and business owners. When a divorce is litigated, these parties are vulnerable to financial probes and the possibility of being reported to the Internal Revenue Service if anything is out of sorts. Furthermore, prenuptial agreements can address:
- Appreciation of property
- Spousal Support
- Real estate
What If I Am Already Married?
If you are already married and realize that you have assets that need protecting, hope is not lost. If you can convince your spouse, you can draft and implement a postnuptial agreement. The only difference between a prenuptial agreement and a postnuptial agreement is when they are executed.
Contact An Experienced Attorney To Learn More
We understand how hard it is to consider the end of a marriage before it even starts. Many believe that prenuptial agreements are for the untrustworthy. This is a false stigma that has exposed many couples to the pitfalls of litigation. If you would like to find out more or need an attorney to help you draft, review or negotiate a prenuptial agreement, contact us online or by phone at 732-582-5061 to arrange a legal consultation.