Who Needs a Prenup?

The beginning of a marriage is an exciting time. The happy couple is just starting out in life and can look forward to the years of building a life together. At such a happy time, neither party wants to think about the fact that the relationship and marriage may ultimately fail. It is understandable, therefore, that many people tend to shy away from the topic of a prenuptial agreement. Before moving forward with your marriage, you may want to consider whether a prenuptial agreement is right for you.

First, it is important to understand that, despite public conception, prenuptial agreements are not only for people who are wealthy at the time they’re married. A prenuptial agreement can help you and your future spouse clarify your respective financial expectations and responsibilities. One situation when a prenup can be especially useful is when one spouse is involved with a family business. When one spouse has worked with a family business and perhaps even has a stake in a family business, a prenup can provide how that business will be handled in the event that parties divorce. For example, it can state that the other spouse agrees that he or she will not seek to have any part of the family business awarded to him or her as part of the divorce settlement. Another common situation where the parties may benefit from a prenup is where one party has substantial earning capacity that far outweighs that of the other spouse. The parties can determine the spousal support expectations for the spouse with a smaller earning capacity. The advantage of this is that the parties will nto have to argue over eligibility or amount of support in the event of divorce.

Parties should understand, however, that certain issues are not appropriate for inclusion in a prenuptial agreement. The most common example is child custody. Although the parties are free to include a clause about how custody will be handled at the time of divorce, if push comes to shove, the court will not enforce such a clause, but will instead make a decision about custody and visitation based on what is best for the children at the time of divorce.

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We have helped many clients with issues regarding drafting and enforcement of a prenuptial agreement. Call us today for a consultation.

Are you interested in seeking an annulment? If so, contact Williams Law Group, LLC right away. Our family law attorneys will review your case to determine if an annulment is an option. If it is, we will guide you through the process and ensure you make the best decisions for your future. Call our office at (908) 738-8512, email us atinfo@awilliamslawgroup.com, or contact us through our confidential online form to schedule a consultation
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