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All Press Releases for January 23, 2014 »
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Can prenuptial agreements really help?

To many, prenuptial agreements are not needed except by very wealthy persons, but these contracts can, in fact, benefit the everyday person.
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    January 23, 2014 /24-7PressRelease/ -- Engaged couples in Detroit are like their counterparts around the country. Much energy is put into plans for that special day and what type of life they want to create together. It does not seem natural for many people to also put energy into how best to protect themselves if the marriage should not work out and a divorce occurs.

How can a premarital contract help?

To many, prenuptial agreements are not needed except by very wealthy persons. However, such thinking is becoming increasingly outdated as more and more it is seen that such marital contracts can, in fact, benefit the everyday person. Some ways that these documents can help include:
- Remarriages: For people who have been married before that have either children or even grandchildren already, there may be a legitimate need to keep many assets separate in order to properly provide for those family members.

- Later-life marriages: Even without the presence of either a former marriage or children from a former marriage, more people are getting married at later stages of life. This means that many people getting married have far more assets than they would have if they had gotten married at a younger age. With this in mind, it can be understood that they may wish to preserve those assets for specific reasons rather than have them intermingled with those of their spouses.

- Business protection: The entrepreneurial spirit of America means that a great number of people may have a business interest that they wish to protect against loss during a potential divorce. Whether a family business, sole proprietorship, partnership or something else, a prenuptial agreement may help to keep business dealings out of property division during a divorce.

To some experts, the discussions that a couple can have when developing their prenuptial agreement can themselves be helpful in that it forces issues to come to the table before rather than after a marriage takes place.

Be smart when creating your agreement

Working with attorneys who are experienced with prenuptial agreements is critical for you and your future spouse. Each of you should have your own counsel and should ensure that any agreement is always in writing and avoids any options to be considered coercion, such as being signed too close to your wedding date.

If you and your soon-to-be husband or wife are considering a premarital contract, you should get a consultation with some attorneys to learn more about how to create a proper agreement that will be upheld if it is ever needed.

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