Have you ever heard your fiancé bring up the term “prenup” or prenuptial agreement? Perhaps a close friend has suggested you get one? A prenuptial agreement is a legal agreement made between two people before they get married. A prenup concerns the ownership of your assets in the event that your marriage ends in divorce. The point here is that prenups aren’t for everyone and you should know the pros and cons before you choose to get a prenup. If you do decide to get a prenup, our family law attorneys at the Lake of the Ozarks can help you. Call Deputy & Mizell at 417-532-2191 for your free consultation.
Are Prenups Worth Having?
Prenup Pros
- Protect the inheritance children from previous marriages should get.
- Fully communicate to your soon to spouse all financial assets you have to start with.
- Avoid losing your valuable financial assets in the event of a divorce.
- Determine how marital debt will be handled in the event of a divorce.
- Protect yourself from irresponsible spending done by your spouse.
- Prenups can cover more than just financing. You can lay down details regarding who makes certain decisions and handles various responsibilities within the marriage. This can be part of your prenup, as well. Some couples can prefer to plan these sorts of things out before they get married.
- Cut down on divorce costs (if you do divorce) because prenups can allow you to avoid extended court proceedings.
Prenup Cons
- There’s a chance you could offend your future spouse-to-be by asking for a prenup. They could think you don’t believe the marriage will last.
- If you don’t have any financial assets yet, then there’s not really a lot of benefit in getting a prenup. For example, if you choose to get married at the age of 18, right out of High School and don’t have a lot of money saved or don’t own a house yet – you may not see a reason to get a prenuptial agreement.
- If you sign a prenup, you may have to give up any rights you would have had to inherit your spouse’s estate in the event he or she were to die before you.
- You may agree to things before a marriage that you don’t necessarily agree with a decade down the road.
Interested in Having Your Prenup Drafted by Deputy & Mizell?
As we said earlier, prenups aren’t for everyone. However, some couples who choose to get married feel more comfortable entering into the marriage knowing they have a prenup agreement in place just in case the marriage fails. You hope you don’t have to use your prenup when you get married, but it can act as a backup plan in the event of a divorce. For more information on prenuptial agreements or to have one drafted, give us a call at 417-532-2191. We can help you by answering your questions and drafting the prenup if that’s what you decide.
Contact Deputy & Mizell, LLC to schedule your private (FREE) consultation today.
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