In some states, a prenuptial agreement is known as an “antenuptial agreement,” or in more modern terms, a “premarital agreement.” Sometimes the word “contract” is substituted for “agreement,” as in “prenuptial contract.” An agreement made during marriage, rather than before, is known as a “postnuptial,” “post-marital,” or “marital” agreement.
Do You Need a Prenuptial Agreement?
- Prenuptial agreements are not just for the rich. While prenuptial agreements are often used to protect the assets of a wealthy fiancé, couples of more modest means are increasingly turning to them for their own purposes. There are a host of reasons why you may need a prenuptial agreement:
- Passing separate property to children from prior marriages. A marrying couple with children from prior marriages may use a prenuptial agreement to spell out what happens to their property when they die, so that they can pass on separate property to their children and still be able to provide for each other, as needed. Without a prenuptial agreement, a surviving spouse might have the right to claim a large portion of the other spouse’s property, leaving much less for the kids, contrary to the deceased spouse’s wishes.
- Clarify financial rights. Couples with or without children may simply want to clarify their financial rights and responsibilities during marriage. A prenuptial agreement will accomplish this objective.
- Avoid arguments in case of divorce. Couples may want to avoid potential arguments if they ever divorce, by specifying in advance how their property will be divided, and whether or not either spouse will receive spousal support. A prenuptial agreement will help to avoid those arguments.
- Obtaining protection from debts. Prenuptial agreements can also be used to protect spouses from each other’s debts, and they may address a multitude of other issues as well.
Contact the Saghera Law Group Today
If you are considering marriage and contemplating a prenuptial agreement, we invite you to contact us to discuss your situation. We are here to help and guide you through this process and help you find solutions to your issues.