Wednesday, March 23, 2011

Prenuptial Agreements Help Protect Your Assets AND Your Marriage

Marriage is not just a mingling of hearts and households; it’s also a mingling of assets and property.  This may not seem like a big deal if both partners are young and have little to their names yet, but if either partner (or both partners) is well established, with a career or business of their own a prenuptial agreement is particularly well advised.  A prenuptial agreement can also be a good idea if one partner has children (or assets, or debt) from a previous marriage, or is an expectant heir or heiress.

Contrary to what many people may think, a prenuptial agreement isn’t just for the rich and famous, and a prenuptial agreement doesn’t mean you aren’t sure your marriage will really make it. In fact, this article in the Huffington Post details 10 reasons why a prenuptial agreement is a good idea—and not one of those reasons is “You don’t think your marriage can make it.” Here are just some of the reasons why you should consider a prenuptial agreement:

• Writing a prenup will help you learn about each other.
• Separate property before you marry should often remain separate property when you married.
• A prenuptial agreement can help keep the peace in your extended families.
• Prenuptial agreements can provide freedom from each other’s debts.
• Expectations for the marriage can be addressed in advance with a prenuptial agreement.

No matter what your age or position in life, creating a prenuptial agreement before you wed can be beneficial to your family, your finances, and your marriage. Don’t let old-fashioned notions about prenups and the rich and famous keep you from protecting your assets.  Talk to your partner and consult your attorney before  you walk down the aisle.