Five Reasons You Should Have A Prenup
A prenuptial agreement is a good, safe agreement that protects the rights of spouses and safeguards property. There are many reasons to consider having a prenuptial agreement, but we have narrowed the list down to the top five.
1. You Have Significantly More Wealth Than Your Soon-To-Be Spouse
In the event you two go your separate ways, your premarital financial assets can be better protected.
2. You Have Significantly LESS Wealth Than Your Soon-To-Be Spouse
When it comes to finances, it goes both ways. A prenuptial agreement can also be used to put in place financial protections for a lower earning spouse, ensuring he or she is not impoverished in the event of a divorce.
3. This Is Not Your First Marriage
People marrying for a second time often have legal or financial ties to a first marriage. You may have minor children from your previous marriage, child support obligations or spousal maintenance obligations. You can use a prenuptial agreement to draw clear boundaries and ensure that your children or new family is not harmed by legal issues.
4. You Are A Business Owner
Even the best of friends and closest of spouses can have trouble running a business together. Imagine how difficult it would be to run a business with an ex-spouse. Not an inviting prospect, is it? A prenuptial agreement can be used to prevent your ex from becoming your business partner in the event of a divorce.
5. Your Soon-To-Be Spouse Has A Large Amount Of Debt
No one plans on a divorce happening, but over half of all marriages in the United States end in divorce. A prenuptial agreement can protect you from being responsible for your partner’s debt in the event you go your separate ways.
Contact Keith B. Schulefand, Esq., In Williamsville, New York
To learn more about how a prenup can protect your interests, send me an email today to schedule a free phone consultation. I am family law attorney Keith Schulefand and represent men and women throughout the Buffalo area.