The current reality is that many marriages that begin with love and optimism nonetheless end in divorce. This means that before you marry, it may be wise to consider the possibility that your marriage could end. You can do this by entering into a Premarital (or Prenuptial) Agreement. Such agreements usually set out the way in which property is to be divided and spousal support is to be handled in the event of a divorce. You and your spouse can also enter into a similar contract while you are married: such an agreement is called a Postnuptial Agreement.
Why enter into a Prenuptial or Postnuptial Agreement?
Because of a concern about what the future may hold. A few examples of the types of concerns that prompt some couples to enter into such agreements are:
- Concern about protecting the financial interests of pre-existing children.
- Desire to shield family property, or property accumulated before the relationship began, from distribution during a divorce.
- Worry about potentially being required to take on a spouse’s debts. Loving someone – even wanting them to be your life partner – does not necessarily mean that you trust their judgment about money. Sometimes it makes sense to separate their spending practices from your credit rating.
- Reluctance to leave a promising career to become the primary caregiver for children or elders unless future support is secured.
- Hesitance to recommit to a marriage after infidelity.
The concerns that influence couples to enter into Prenuptial or Postnuptial Agreements are infinitely varied. If you wish to enter into an agreement, Georgia Lord can create a contract that reflects your intentions and meets the extensive legal requirements for creating an enforceable Prenuptial or Postnuptial Agreement.