Premarital Agreements

The most common reasons for spouses to file premarital agreements have to do with finances. Prenups are designed to ensure that any property an individual brings into a marriage will remain that person’s property in the event that the marriage ends. 

Furthermore, the opposite can be true: a premarital agreement can protect a spouse from assuming the premarital debts of the other spouse when they are married. 

Although premarital agreements are most commonly associated with wealthy or famous individuals, there are several more modest reasons why every couple might consider a prenup. 

• Protect the inheritances of children from previous relationships. If an engaged couple has children from previous marriages or relationships, a premarital agreement can protect the assets that are set aside for those children’s inheritances. Without such an agreement, the surviving spouse ultimately determines who gets which assets. 
• Clarify each party’s financial responsibilities and rights. Often, premarital agreements exist to line out each party’s financial rights and responsibilities during the marriage. 
• Keep divorce proceedings simple in the future. Although it may seem as if you shouldn’t think of divorce even before you’re married, half of all American married couples will eventually divorce. A prenuptial agreement is a great way to line out things like spousal support, community property, property division, and more. 
• Avoid assuming the other person’s debt. If you are concerned about debt that your partner accrued before marriage, or even if you worry about debts that your spouse may accrue during your marriage, a premarital agreement is a great way to protect you from that responsibility.