Yates Family Law PC
Speak with Michael A. Yates today.
going separate ways?
Changes Lead To Choices Your Expert Guide Through Changing Times
Yates Family Law PC
Speak with Michael A. Yates today.
going separate ways?
Changes Lead To ChoicesYour Expert Guide Through Changing Times
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Creating a prenuptial agreement: 3 factors to consider

On Behalf of | Sep 2, 2022 | Prenuptial Agreement |

Individuals with considerable assets or those who simply want to protect themselves before entering into a marriage may consider creating a prenuptial agreement. U.S. Bank reports that this document typically provides information regarding the division of assets in case of a divorce or the death of a spouse.

Those who believe they would benefit from a prenuptial agreement may want to consider a few important factors as they move forward with creating this document.

1. Define the purpose

Before creating a prenuptial agreement, those involved may want to consider the primary purpose of doing so. For example, an older individual entering into a second marriage may want to consider a prenup to protect assets gained in his or her younger years. Other purposes may include marrying someone with minor children or protecting the value of stocks gained in previous years.

2. Spousal needs

Creating a prenuptial agreement means aligning one’s needs with those of his or her spouse, who must of course feel comfortable with the document’s contents before signing it. The individual creating the document may want to discuss a variety of circumstances, such as what should happen if one of them passes away suddenly or becomes so ill he or she can no longer handle the family finances. While such discussions are often difficult, they can help one’s spouse understand the importance of considering the future.

3. Timing

Individuals who want to create a prenup may want to announce their intentions or desire to do so well before the wedding date. Because of all the details involved, those planning any type of prenuptial document may want to do so at least six months to a year before the date of the wedding.

Approaching the subject of a prenuptial agreement with one’s fiance is not always simple; however, it may help comfort a future spouse to know that such a document can protect the family’s future financial circumstances.