What are the Benefits of Drafting a Prenuptial Agreement?

If you are planning to get married, you should strongly consider speaking with an experienced family law attorney about drafting a prenuptial agreement. 

A prenuptial agreement is a legal document that essentially outlines how you wish for the various aspects your marriage to be handled should the marriage end in divorce.  It is common in a prenuptial or post nuptial agreement (which is the same as a prenuptial agreement except that it is drafted after the marriage has commenced) to include instructions for how child custody, spousal support, and child support is to be arranged.

Perhaps the most common element of a prenuptial agreement is division of property, especially when one or both spouses have a large amount of property, assets, and/or money.  In the prenuptial agreement, both parties can include instructions as to how they wish for certain property and assets to be divided and allocated in the event of divorce. 

Why a Prenuptial Agreement?

Although it may be awkward or uncomfortable to discuss drafting a prenuptial agreement right before marriage, it is in both party's best interest to do so.  While all soon-to-be married couples never anticipate their marriage ending in divorce, the truth is that over 50 percent of today's marriages do not last.  For this reason, it is best to be prepared.  

With a valid prenuptial agreement on file, you can ensure your needs, wants, and best interest will be legally protected.  Furthermore, because you have already made arrangements in regards to child custody, support, alimony, and property division, the divorce process should move along quickly.   In addition, because both you and your partner have already agreed to the terms listed in the prenuptial agreement, there is a greater chance you will avoid a contested divorce, which will ultimately cost you more time and money than if you were to resolve your divorce amicably.

If you are interested in discussing the benefits of a prenuptial agreement in more detail, please click here to find a family law attorney in your area.