If you are currently planning on getting married, you will no doubt be carrying out a lot of fun preparations. For instance, you’ll no doubt be getting excited choosing the best venue for your ceremony, as well as organizing all of the finer details of the wedding reception. But you shouldn’t get too wrapped up in all of this fun - there are some more important and practical considerations to think about as well.
One thing that quite a few couples think about before they get married is whether or not they should sign a prenuptial agreement. These agreements are often called ‘prenups’ and they settle all financial matters should the marriage end in divorce. This may not be the most romantic thing for you to think about right now, but it can save you a lot of possible fighting a lot later down the line. Here are a few things you should think about when it comes to signing a prenup.
It’s Advisable If This Is Your Second Marriage
Generally speaking, young couples who are entering into their first marriage don’t sign prenups as there won’t be much for them to lose if they end up divorcing before they have children. If there are children involved, then the financial settlements will largely go in the children’s favor. However, if you are older and already have children from a previous relationship, it is really worth considering signing a prenup. This is also the case if you are middle-aged and this will be your second marriage. The prenup can help you protect your children and any large financial assets that you brought to this second marriage.
A Lawyer Can Get You The Best Agreement
If you decide to sign a prenup, then you will need to hire the services of a law firm, such as TAILORLAW.COM, that specialize in family law. In fact, it is highly advisable that you use a different lawyer to your partner. That way, you will benefit on advice that is specific to you as an individual.
Understand The Local Laws
It’s worth finding out what the exact law for prenups is in your state. It isn’t the same across the whole of the country, and each state has its own rules and regulations regarding prenuptial agreements. Finding out how the law will affect you exactly could result in you changing your mind about these pre-marital contracts.
Consider The Alternatives Before You Sign
Of course, prenups aren’t the only way you can protect your finances and assets in the event of a divorce. You should always consider the alternatives. For example, keeping your own bank account from bankofamerica.com will be a good way to save a pot of money that your spouse won’t have access to. You might also want to set up a revocable living trust, as these can be used to direct property and assets to someone other than your spouse in the event of a divorce.
So, to sign or not to sign? That is the question!
CANDY TAI is a wife to David and mom of 5 with a degree in Communications. She's a native Texan (Hook 'Em Horns!) who's been making her home in the Kansas City metro area for nearly 15 years. She loves being able to shuffle her kids from their various sports activities, piano lessons, and school activities. She enjoys fashion, beauty, reality TV, and moviegoing.