Understanding prenups

Getting married is a big deal. It is not just two people in love devoting their lives to one another. It is two separate lives, each having their own past, property and financial history, joining together as one. This can cause many concerns and complications. Money can be a significant factor. And, in efforts to protect assets and property in case the union ends in divorce, many couples intending to get married decide to include a prenuptial agreement in their marriage.

Understanding whether or not a prenuptial agreement is right for you means understanding what a prenup is. In simple terms, it is an agreement between two people intending to marry that addresses various issues that focus on property rights and assets. For some, the purpose is to provide protection in the event of a divorce. For others, this document helps ease the divorce process, helping to address many of the divorce issues.

A common misconception about prenuptial agreements is that a person needs to be wealthy to enter into one. This is not true. Taking the step to protect property is not exclusive to the rich and famous. Wanting to leave a marriage with what one brought into it is a common desire and the prenup can help one achieve this goal.

Whether you seek to just protect yourself in case of a divorce, are on a subsequent marriage or are trying to invalidate or enforce a current marital agreement, it is important to understand how best to navigate these matters. A prenuptial or postnuptial agreement may be in your best interest and it is important to understand how these could benefit you.