Posted on Jan 4, 2019

Van Boekel Law Firm, LLC

More people are signing prenups— should you, too?
Short for prenuptial agreement, prenups are no longer reserved for the rich and famous or those marrying multiple times; Americans marrying later in life with more assets to protect and who fear divorce look to prenups as a source of protection.
A prenup manages expectations of what happens during a divorce and post-divorce. "Without a prenup, the laws of the state determine what will happen to your future should you and your spouse split. The largest advantage of a prenup is that the couple, not the court, decides what happens in the event of a divorce.
But it's still not a decision to be taken lightly. Whether or not you get one depends on what you want to protect — if any of the following apply to you, you should consider getting a prenup.
If one spouse has more tangible value than the other, a prenup may be worth considering. This is especially true, if you own real property or other high-value assets, or plan to acquire any during the marriage.
Usually, the things you owned before marriage will still be yours after the divorce.There are exceptions. By planning ahead about the disposal of specific properties, and the titling of assets, time — and stress — can be saved.
Another thing to consider: If one partner earns significantly more income, especially if they want to pay little to no alimony. If your take-home pay is far less than that of your spouse,it could be wise to make sure you'll have support in in the future.
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