What are the benefits of a prenuptial agreement?

What are the benefits of a prenuptial agreement?

| Jul 31, 2020 | Divorce

When a Grand Rapids couple gets engaged, they are often feeling full of excitement and anticipation of what is to come. A couple can spend many months and even a year planning this special event. There are venues to research, photographers to interview, dresses to try on, tuxedos to order, etc. Planning a wedding can easily turn into a full-time job. But a couple may also want to consider whether a prenuptial agreement would be a good thing to explore.

Although a prenuptial agreement may not be the most romantic item on a newly engaged couple’s agenda, it can be a good idea for many reasons. Many may believe that a prenuptial agreement is only for the very wealthy or famous, but this isn’t the case. For some couples, creating a prenuptial agreement makes sense. Its advantages include:

  • Protect a person’s individual assets
  • Protect a person from their future spouse’s debts
  • Determine how property will be passed upon the death of one spouse. This is a good option when a couple is entering their second or subsequent marriage and has children from previous relationships.
  • Clarify financial responsibilities during the marriage
  • Help speed up a divorce if one is to occur in the future

Of course, no Grand Rapids area engaged couple is going to think their upcoming nuptials will some day end up in divorce. But for those who are coming into the marriage with assets and property of their own, having a plan in place is not a bad idea. A legal professional who is skilled in family law can help their client create a prenuptial agreement that protects their assets and their future in the event of a death or divorce. They can help their client understand how a prenuptial agreement can benefit them and their family.