A prenuptial agreement is an agreement between two people that deals with the financial consequences of their marriage ending. In order to take control of your lives in the event of a divorce, rather than leave it in the hands of the Court, it makes sense for many people to get a prenup. In some cases, it is particularly important to have a prenup to protect your rights and responsibilities in the event of a divorce. This article presents some of the circumstances where creating a prenup is beneficial:
1. You earn much more than your partner or you are much poorer than your partner. A prenuptial agreement can be used to limit the amount of alimony that is payable if you earn much more than your fiancé. Likewise, if you are much poorer than your soon to be spouse, , a prenup can also be used to ensure that the partner who is weaker financially is protected.
2. You are much wealthier than your partner. A prenuptial agreement can ensure that your partner is marrying you for who you are, and not for your money.
3. You are remarrying. In the event of a remarriage, a prenuptial agreement can ensure that when you pass away, your assets are distributed according to your wishes, and that neither your first family, nor your new family are cut off. In addition, when you remarry, your legal and financial concerns are often very different than in your first marriage. You may have children from a previous marriage, support obligations, and own a home or other significant assets. A prenuptial agreement can assist with determining your rights and responsibilities so that your obligations are not affected.
4. You own a business. Without a prenuptial agreement, when your marriage ends, your spouse could end up owning a share of your business. Your business partners may not want this to happen. A prenup can ensure that your spouse does not become a partner in your business.
5. Your fiancé has a high debt load. If you are marrying someone with substantial debt, and you do not want to be responsible if the marriage ends, a prenuptial agreement can help so that this does not happen.
If you or someone you know is getting married soon and would like a prenuptial agreement, contact our experienced family law attorneys today. At Rosenblum Law Offices we can help create a prenuptial agreement to protect your Nevada marriage. Call us today at (702) 433-2889 or submit your questions through our on-line form.