Considering a Prenuptial Agreement
Contrary to popular belief, prenuptial agreements don’t encourage divorce. Instead, they serve an important legal function, protecting the separate assets of individuals entering into a marriage. In the event the marriage was to later fall apart, the prenuptial agreement would provide the framework and a roadmap for dividing the couple’s assets. This can turn a potentially contentious part of a divorce proceeding into an easy, straightforward process.
If you are thinking about asking your fiancé to sign a prenuptial agreement, you may also be questioning whether doing so is actually necessary. Prenuptial agreements are not for everyone, but in certain circumstances they can be worthwhile. If you are considering a prenuptial agreement, contact our family law attorneys for assistance. Here are four reasons you might want to consider signing a prenup with your intended spouse:
1. You are remarrying.
If you were previously married and are getting married now to someone else, you may have experienced first-hand the frustration and contention that can occur when a relationship sours.
Couples entering second or subsequent marriages often want to ensure that certain assets will be protected for their children, no matter what happens. A prenuptial agreement can help ensure those assets will not become the other spouse’s property if a divorce occurs.
2. There is a significant income disparity between you and your fiancé.
It is not uncommon for there to be an income gap between partners heading into a marriage. If you make significantly more money than your fiancé makes, your prenuptial agreement could limit the amount of alimony you would have to pay in the event of a divorce.
Conversely, if your future spouse’s income is significantly higher than yours, a prenuptial agreement could help protect you by establishing a minimum amount of alimony to be paid if a divorce occurs.
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3. Your fiancé has accumulated a lot of debt.
When you decide you want to marry someone, you are probably marrying them because you love them and want to build a life together. However, you want to marry the person; you don’t want to marry their financial obligations.
If your fiancé is drowning in credit card debt, student loan bills or other financial obligations, creating a prenuptial agreement can help ensure that if the marriage is dissolved at some point in the future, you will not be saddled with having to repay those debts.
4. A prenup can strengthen your relationship.
In order to create a valid prenuptial agreement in Georgia, both you and your fiancé will need to provide a full, accurate disclosure of your assets, liabilities and income.
While prenuptial agreements have a bad reputation as relationship-killers, the act of discussing what’s most important to you, and disclosing your personal financial data and information to your fiancé can actually have the opposite effect. It’s hard for many couples to talk about money; when you put all your cards on the table before the wedding through the prenuptial agreement negotiation process, you may find that openness and honesty forge a stronger bond between the two of you.
To Learn More about getting a Prenuptial Agreement, Schedule an Initial Consultation Today
Prenuptial agreements can help protect both your interests and those of your fiancé. If you are considering having a prenuptial agreement prepared, be aware that there is time sensitivity to creating an enforceable prenuptial agreement in Georgia. Both parties must have adequate time to review the agreement, and to discuss it with their own attorneys, without being rushed to sign it hours or days before the wedding ceremony. As a good rule of thumb, start the process as early as possible. That will allow you and your fiancé to negotiate terms you are both comfortable with.
To explore whether a prenuptial agreement makes sense for your specific circumstances, contact an experienced family law attorney at Kitchens New Cleghorn, LLC in Atlanta today. Contact the firm online, or call us at (404) 996-0806 to get started.