Do I need a prenup?
Between song lyrics and divorce horror stories, prenuptial agreements (“prenups”) are often touted as being a wise decision for anyone getting married. However, you should speak with one of our attorneys to determine if one is right for your unique circumstances. A prenup is a contract executed prior to your marriage that allows you and your future spouse to create certain rules and define expectations for your marriage. Often these rules will relate to how property is divided, what alimony/spousal support will be, and your respective rights to take from each other upon your death. Without a prenup stating otherwise, the default rules in the event of a divorce, or your death, will control. These rules are created by statutes and case law.
Depending on your circumstances, a prenuptial agreement may be preferable to the default rules and help limit exposure. Prenups can also ensure your wishes, upon your death, are respected. Regardless of your situation, a prenup can reduce surprises and provide you with a roadmap of what to expect if the unexpected should occur.
What terms in a prenup will be right for you? That will depend on your circumstances and what you believe your life will look like after marriage. There is no one-size-fits all answer to what should be in a prenup. Just like your marriage is unique, your prenup should be tailored to fit you and your life.
However, if any of the following applies to you, you should strongly consider speaking to one our attorneys about a prenup:
You own a business, or a significant interest in a company.
You have assets prior to marriage that you want to clearly define as your property (like your retirement or even your dog).
You have children from a prior marriage that you want to inherit your estate without dealing with a claim from your soon-to-be-spouse.
You believe you will significantly out-earn your partner and do not want to pay spousal support.
You want to define what will happen to your property if you get divorced.
Call us today to schedule a time to discuss whether a prenup, and what type of prenup, would be best for you.