Why You Should Consider a Prenuptial Agreement
Prenuptial agreements aren’t just for the rich and famous. True, they typically end up in the news because of a celebrity divorce, but they’re often a good idea for a large number of people who don’t have a multi-million-dollar net worth.
Here are some reasons why and when a prenuptial agreement is something you should consider:
1. You or your spouse have children from a previous marriage
Couples who have been married more than once are more likely to bring children into the new marriage, which may complicate things financially. A prenup helps parents protect assets for their children. While a will is similar, it doesn’t necessarily protect things for your children.
2. You earn significantly more than your partner
Prenuptial agreements are used in many states to limit the amount of money the major wage-earner must pay.
3. One of you has high debt
If your marriage ends and your spouse has significant debt, you don’t want to be responsible for paying off that debt. Prenuptial agreements prevent this from happening.
4. If either of you is a stay-at-home parent
Stay-at-home parents save families money because they’re doing the type of work that would otherwise have to be contracted out. If the marriage ends, however, there’s no real way to quantify those cost savings – which leaves the stay-at-home parent at a major disadvantage. A prenup will protect both spouses, not just the wage-earner.
5. Prenups prevent surprises in divorce court
Prenuptial agreements allow you to do everything except limit child support and child custody and visitation. Moreover, they’re almost always enforced by the court.
6. If you own part of a business
Your spouse could end up owning a share of your business if you don’t have a prenup – which is something your business owners may not want.
If you’re looking for a Brooklyn Family Lawyer to help you draft a prenuptial agreement, contact the Levitsky Law Firm. You’ll save yourself from lengthy litigation and establish your rights, without spending thousands of dollars in the long run.