Weddings create bonds that are intended to last a lifetime, so negotiating the terms of a possible future divorce may not seem like the most romantic way to prepare. However, discussing these issues with your partner in advance can help bring you closer together, and may save considerable stress and attorney’s fees if the marriage does come to an end. Understanding the benefits of a prenup can help you decide whether signing a contract is the right move for you.
Why You Might Need a Prenuptial Agreement
What Is a Prenup?
A prenuptial agreement is a private contract between you and your spouse that outlines how property should be divided in the event of a divorce. Many couples without prenups find themselves embroiled in extensive negotiations and even bitter legal disputes over shares of real estate, savings accounts, and items of sentimental value. Writing a prenup allows you to resolve these issues peacefully, without the heightened emotions that divorce often brings.
What Can’t a Prenup Do?
While prenuptial agreements are a valuable way to decide property distribution issues, they can’t be used to resolve child support and custody issues. These matters are decided solely by a judge, so any provisions in your prenup that address them will likely be discarded if you divorce.
When Is a Prenup Useful?
People with significant assets often use prenuptial agreements to limit how much their spouse can get in a divorce, but they’re also useful if you own a share in a business. Otherwise, your spouse could receive part of your company in the divorce, forcing you to either work with them or buy out their interest. Attorneys also recommend crafting a prenup if either of you plans on making career sacrifices for the good of the marriage. A prenuptial agreement can ensure that your interests are protected if you stay home with the children, or support your spouse while they finish their education.
Negotiating a prenuptial agreement can be a complex process, but a skilled attorney can provide the guidance and legal insight you need. The team at Stephenson & Stephenson, PA Attorneys at Law has been serving communities throughout North Carolina’s Lee, Chatham, Moore, and Harnett counties for more than 31 years, offering sound legal counsel and compassionate, individualized attention to every client. Visit their website for more on their family law services, or call (919) 774-6182 to speak with an experienced attorney today.