The Basics of a Prenuptial Agreement
July 19, 2009 by admin
One of the greatest debates a couple may face when deciding to marry is the issue of whether or not to have a prenuptial agreement.
A prenuptial agreement is a contractual agreement between a couple about to wed that determines how assets will be distributed if a divorce were to take place. Prenuptial agreements are not just for the super wealthy. You may consider having a prenuptial agreement if you:
- Own a home, stock, or other retirement funds
- Own part or all of a business
- Receive an inheritance or other substantial funds
If you are considering a prenuptial agreement, communication between you and your future spouse is key. The two of you should sit down and discuss what the agreement would cover. Overall, honesty concerning one another’s assets is vitally important. Also, a prenuptial agreement cannot waive rights to child support.
As difficult as it may be to discuss money prior to marriage, the conversation may save you some headaches and heartache in the long run. While a prenuptial agreement may not be the ideal document for every couple, it is definitely encouraged that couples discuss financial arrangements prior to saying ” I do”.
If you are in need of a prenuptial agreement form for your state, visit MyLegalEdge.com.
[...] The Basics of a Prenuptial AgreementAs difficult as it may be to discuss money prior to marriage, the conversation may save you some headaches and heartache in the long run. While a prenuptial agreement may not be the ideal document for every couple, it is definitely … [...]