Prenuptial and Premarital Agreements
Of the many protective tools and documents available in the realm of family law, one agreement in modern society is taking on a new flexibility: the Prenuptial Agreement.
Historically, this particular legal instrument has been most utilized by people lucky enough to have acquired or inherited great wealth, celebrity or other similar status. Because of cultural changes like higher second marriage rates and a rise in the average age of couples marrying for the first time, it is more common that individuals entering into a new marriage have already acquired significant assets such as real estate, investments, private businesses, and other financial wealth and assets gained personally outside of the relationship. In addition to these, many couples are combining families sometimes with significant investments for the benefit of children from prior relationships, such as college funding accounts and life insurance policies. A well thought out prenuptial agreement can provide you with the peace of mind that your assets and business interests will be kept safe in the event of potential future disputes that may arise as the result of divorce or the death of your spouse.
Prenuptial Agreements, also known as Premarital Agreements, are agreements made between prospective spouses before marriage. Prenuptial agreements lay the foundation for the financial side of your marriage, such as keeping designated property outside of the marriage contract. Prenuptial agreements can protect your assets and those of your intended spouse. Some of those assets include:
- real estate and personal property
- family and personal businesses
- inheritances and trusts
- retirement accounts and investments
It is important to discuss both present and future financial arrangements in an appropriate manner with your future spouse. The Law Offices of Gum, Hillier, and McCroskey have the experience to help you through the process of developing a sound agreement and strategic plan for openly discussing the benefits of a premarital agreement with your mate in a forthright and effective manner.