No engaged couple expects to file for divorce someday, but preparing for that possibility can spare you both the emotional trauma and expenses later. A prenuptial agreement is a valuable instrument, allowing you and your partner to settle these issues in advance, preventing extensive litigation and costly disputes later on. Here are a few factors to consider when deciding whether a prenuptial agreement is right for you.

When You Might Need a Prenuptial Agreement

1. Either Spouse Has Significant Assets

Traditionally, prenuptial agreements have been used to protect the assets of one spouse from division in a divorce. In many cases, any property you own before marriage will be considered a separate asset, but the court might decide to include some of it in the marital estate. A prenuptial agreement allows you to set the terms of the division before marital issues arise.

2. One of You May Make Career Sacrifices

Many spouses decide to pass up promotions or give up their careers entirely to stay home with the children. One of you might support the other partner while they work toward an advanced degree—only to later work in a lucrative field. In the event of a divorce, a prenuptial agreement can ensure you’re compensated for these sacrifices in the distribution of assets.

3. You Own a Business Before Marriage

Even if you founded the business before meeting your partner, a judge might consider your interest subject to division, especially if the company enjoyed significant growth during the marriage. A prenuptial agreement allows you to set your business holdings aside as separate property, ensuring you won’t have to manage your company with a former spouse after a divorce.

If you’re getting married soon, let the legal team at Katzman, Logan, Halper and Bennett help you and your partner plan for the future. Their legal team has over a century of experience serving clients throughout the Cincinnati, OH, area, offering the personalized attention these delicate matters deserve. Visit their website for an overview of their family and divorce law expertise, follow their Facebook page for additional legal tips, or call (513) 793-4400 to schedule an appointment today.