Some people may consider a prenuptial agreement (or prenup for short) to be unpleasant subject matter. Moreover, they may think they’ll never need it, given how much they love their spouse-to-be. However, even if you are deeply enamored with your fiancée and feel like you’ll be together forever, it can still be worthwhile to consider a prenup.
A prenup is a contract signed by a couple who are engaged to be married. This contract’s primary purpose is to set up the terms for how their shared marital property will be divided in the event of a divorce, including potentially defining the boundaries between shared marital property and their individual personal property. For example, if you have a specific family heirloom or property that you want to keep in your family no matter what, a prenup can arrange for that. A prenup can also set up terms for providing for any children you have, particularly children from previous relationships.
Prenups can serve other roles as well. For example, they can shield marital property from creditors, who can normally go after marital property to satisfy debts even if that debt is held by only one spouse. It can help you determine how you’ll allocate new or unusual kinds of property, like retirement benefits, or set out terms for making large purchases like a car or a house. A prenup can even be used as part of estate planning, setting up terms for how your marital property will be handled should one or both of you pass away. And while that can be morbid to think about, it’s better to think about it now and have a plan in place than for the worst to happen and have no plan at all.
If you’re interested in creating a prenup for you and your fiancée, you should seek out an experienced matrimonial attorney to guide you through the process. The matrimonial attorneys at the Marnell Law Group have the knowledge and experience you need to create a prenuptial agreement for you and your fiancée. Give us a call at (516)-542-9000 or send us a message on our contact page, and we’ll work with you to design a prenup that fits your needs.