Are you engaged and planning to marry soon? Like other Pennsylvania couples, you are likely overwhelmed by all of the details that come with planning a wedding, but there may be more to think about. It is easy to be focused on the day of the wedding itself, but planning for your future is also important.
Planning to protect your future is as simple as working with a lawyer to draft a prenuptial agreement. This may not seem like a romantic thought as you approach your wedding, but it is a smart, practical step for couples of all income levels. This step can provide you with peace to mind as you approach your future together.
Who needs a prenup?
Prenuptial agreements are not only for the wealthy, nor are they only for couples who assume that they will divorce at some point in the future. A prenuptial agreement is actually a tool to protect the interests of both parties in the event of a divorce. It is not a plan to divorce, it is a plan to avoid litigation and complex disputes in case of an unexpected situation.
These legally binging contracts outline the handling of finances and money-related issues in case of a divorce. A prenup will effectively address the following matters:
- Distribution of marital assets and debts
- Division of joint retirement accounts
- Student loan and other debts brought into the marriage
- Division of any family-owned business
- Alimony or spousal support
By taking care of these potentially contentious matters beforehand, a prenuptial agreement provides the peace of mind that comes from knowing that a costly court battle will not be necessary in the future. The discussions regarding finances and money during the process of drafting a prenup can actually be a positive conversation to have before two people enter their joined lives together.
Do not leave your future to chance
Experience matters when it comes to drafting your prenuptial agreement. An experienced lawyer will be an invaluable asset as you discuss these important matters and draft your agreement. Your prenup should be correct and the terminology should be legally binding, or you risk problems later.
Your financial future is too important to leave to chance. Plan today to avoid complications in the future by making sure you have a prenuptial agreement in place and the confidence you need to move forward into married life.