Prenuptial Agreements are Not Just for the Wealthy
Prenuptial agreements are not only for wealthy individuals. While a prenuptial agreement may not seem necessary or relevant to someone with average income and wealth or to a young bride or groom to be, anyone can benefit from having a prenuptial agreement in place prior to getting married.
A prenuptial agreement will allow a couple to determine how their assets and debt will be divided and distributed in the event of a divorce, may contain terms relevant in the case of death of either party, can determine whether either spouse will receive spousal support, and can contain terms to address many additional issues relevant to the marriage of the parties. Most people view a prenuptial agreement as a tool to protect the assets of the wealthier party; however, these agreements will provide protections for both parties and will limit issues requiring litigation in the event of divorce.
Negotiating a prenuptial agreement will result in a more fair distribution of assets, presumably, than would be the case after contentious negotiations after a divorce complaint is filed. The parties to a prenuptial agreement can enter into an arrangement that they believe is fair and that they draft together at the start of their marriage and which will take effect in the event of divorce. Even if neither party is wealthy, the agreement will dictate what will occur in the event of divorce.
Divorce litigation can be lengthy, stressful, and costly. A prenuptial agreement, when well-written and enforceable, removes the need for litigation and saves the parties time, sanity, and money.
To schedule an appointment with one of our attorneys or for further information, call us at the Law Offices of Gregory P. LaMonaca, P.C., at (610) 892-3877