Pre-Nuptial Agreements are Important!

In the past, a "pre-nuptial" was considered to be sensitive conversation topic with a decidedly negative association. Celebrities or those born into fortunes were the only people who signed pre-nupital agreements. Today, pre-nuptial agreements are now considered truly smart financial planning for the future. With couples now facing a 50% divorce rate and increasingly complex financial dynamics, it is incredibly important to draw up a pre-nupital that will protect the future of both you and your soon to be spouse.

Pre-nuptial Agreements are legal agreements drawn up before a couple is legally married that outlines how the couple's finances will be handled in the event of a divorce. Pre-nupital agreements are useful because they capitalize on the good will a couple has in plenty while in their honeymoon stage. This is the ideal time for the couple to work together as partners and come to a financially sound and fair agreement for both parties. If the relationship does come to an end, not only will the couple experience reduced stress since there is no need to work out the financials, but both partners will be protected.

As an attorney, I recommend pre-nuptial agreements for all my clients, but pre-nuptials are especially important for couples who are planning on bringing assets into the marriage. Some clients mistakenly believe that only those with large or significant assets need a pre-nuptial agreement, but this is a common misconception. Pre-nuptials are a great way to protect your hard-earned assets if a "worst-case" scenario arises, so why not make sure your future is safeguarded? Pre-nuptial agreements are also important for those who have children from a prior relationship, those who will be receiving an inheritance, and those who are financially supporting their partner through university or professional school. Basically - if there are factors that could financially complicate your marriage, it is better to work them out and set them onto a legal document now.

Another great thing about pre-nuptial agreements is that they are easy to draw up. Those looking into pre-nupital agreements simply need to contact a lawyer who is well-versed in the family law of your state to discuss your options and what you kind of stipulations you personally would like in your pre-nuptial. You are able to customize your pre-nupital agreement to include stipulations about your pets, living situation, and even infidelity. A lawyer should be able to write the specifications you desire into your agreement and answer any questions you and your partner may have.

 If you have any further questions or concerns, feel free to reach me at my office.

- Kevin P. McKernan