Do you need a prenuptial agreement?

If you have a prenuptial agreement or are thinking about signing one, you are not alone. Prenups are currently enjoying a surge in popularity. A recent survey conducted by the American Academy of Matrimonial Lawyers found that 63 percent of divorce attorneys have witnessed an increase in requests for the premarital contracts.

In the past, prenuptial agreements have not had the best reputation, and many St. Louis residents still think it is taboo to enter into a prenup. After all, isn’t it odd to plan your divorce before you are even married?

Many modern couples would say no. They find value in protecting their personal property before tying the knot. Prenuptial agreements can be good tools for couples that wish to stipulate their financial expectations for the marriage as well as for a potential divorce.

While not everyone needs a prenup, they can be particularly beneficial for:

  1. Those who have assets valued at $200,000 or more.
  2. Those who are getting married for the second or third time.
  3. Those who have family business interests or family heirlooms.
  4. Those who have children from previous relationships.

That list is not exclusive, as many people who may not fit into these molds can still benefit from prenuptial agreements. For example, some couples state in their prenuptial agreements that they will go to counseling before divorcing.

Those who are not sure whether they need prenuptial agreements should talk to a family law attorney about their rights and options.  And, although it is not a romantic topic, it may be an important one to bring up – delicately – with the spouse-to-be to see where each person stands.

Source: Reuters, “What To Consider Before Asking For A Prenuptial Agreement,” Nov. 27, 2013

Related Posts