How can a prenuptial agreement benefit your situation?

If you are thinking about walking down the aisle, you may be thinking about your future with your spouse, your wedding day and where you will go on your honeymoon. You are probably not giving much thought to what will happen if your marriage ends in divorce. It may seem counterintuitive, but now is the time to do just that.

Thinking about drafting a prenuptial agreement may seem unromantic or as if you are assuming the marriage will fail, but that is not the case. It is a simple way to protect your financial interests and make it easier for both parties in case of an unexpected turn of events in the future. For many Missouri couples, a prenup is a smart move, regardless of income level, age or the likelihood of divorce. 

Why you may need one

A prenuptial agreement is not something reserved only for the rich and famous. You may benefit from this type of contract because it outlines how property division will work in case of a divorce in the future. In the terms of your prenup, you can also do the following:

  • Clarify separate property you owned before the marriage
  • Outline financial responsibilities of each spouse during marriage
  • Decide how spousal support would work in case of divorce

These are things that may be difficult to discuss initially, but they can provide significant peace of mind and confidence for both you and your fiancé as you look forward to your marriage.

Why you may not need one

Although these types of contracts can be beneficial in many different situations, there are limits to what they can do and limitations to what you can accomplish through your prenup. Some of the potential drawbacks may include the following: 

  • You may give up your inheritance rights in case your spouse dies
  • You cannot use a prenup to determine child custody or support
  • You may not completely eliminate disputes and disagreement in a divorce

It is in your interests to be certain that your agreement is carefully drafted and legally enforceable. This will reduce the chance of complications in the future.

Find out for sure

Every situation is different. You will benefit from discussing your case and your potential legal options with an attorney who can evaluate your individual situation and provide guidance on the most appropriate way forward. If you do want a prenuptial agreement, it is also prudent to have a Missouri attorney assist you through this entire process.

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