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How do you know if you really need a prenuptial agreement?

On Behalf of | Mar 6, 2018 | Blog |

Arkansas readers are aware of the fact that many marriages end in divorce. Because of the chance that your marriage may not go as planned, it can be helpful to think about ways you can protect your interests in the event of a divorce. Some couples find it beneficial to consider drafting a prenuptial agreement before getting married.

No matter how long a marriage lasts, divorce involves dividing marital property, settling issues related to debt accumulated during the marriage and dividing retirement savings. These are all complex issues, and there is no easy solution. It can be significantly easier to rely on a prenuptial agreement during a divorce, allowing you to avoid complications and additional disputes.

Who really needs a prenuptial agreement?

Not every couple needs a prenuptial agreement, but many couples can benefit from the protections it provides. This simple legal agreement can allow you to outline property rights and your goals for property division in the event of a divorce. However, property division is not the only goal of a prenuptial agreement. It can also help you accomplish the following:

  • Protect the assets you brought into the marriage
  • Outline financial responsibilities and rights of each party during the marriage
  • Keep you from leaving the marriage with an unfair portion of marital debt

No two financial situations are the same, and no two prenuptial agreements should be the same. This agreement could have a serious impact on your future in case of a divorce, and it is helpful to consider the long-term ramifications of the terms you include. You would be prudent to consider custom tailoring yours to suit your needs and objectives.

Prenuptial agreements are not something reserved only for the rich, but they can provide protections for people of all income levels. Without a prenuptial agreement, you could find yourself embroiled in complex and stressful property division disputes in case of a divorce.

Including the right terms is important

The terms and the provisions you include in your prenuptial agreement matter. These agreements sometimes come under scrutiny during divorce, and you can ensure yours is enforceable by seeking guidance as you draft appropriate terms and conditions.

If you are planning to get married, you might find it useful to draft a prenuptial agreement. A complete evaluation of your case can help you determine if drafting this specific type of legal document is the best step for your individual financial situation.