Are Prenups Just For The Wealthy?

By The Law Offices of Ronald K. Stitch|December 16, 2019

For most people, marriage is an exciting time in their lives. However, with such a high divorce rate in this country, many people are hesitant to jump into marriage. They worry about their financial stability in cases of divorce. Many wealthier couples use premarital agreements, often called prenups. However, should these agreements be relegated to just wealthy couples? 

At the Law Offices of Ronald K. Stitch, we are dedicated to helping clients get through their pre-marriage needs. Today, our Simi Valley prenuptial agreement attorneys want to discuss what goes into these agreements. 

Prenuptial Agreements Are Not A Bad Thing

A recent Forbes article suggested that prenuptial agreements are commonly used by the wealthy to ensure that their assets are protected in case a divorce occurs. The article then went on to say that the use of these agreements should extend beyond the rich and famous. 

We could not agree more at the Law Offices of Ronald K. Stitch. There is a common misconception that a prenuptial agreement is another way of simply planning for marriage to fail. This is not true, and having a prenuptial agreement does not predispose a marriage to be more likely to end in divorce. 

A prenuptial agreement, for those who may not be thoroughly familiar with them, is often composed of several protections, including: 

  • A fair division of any marital property 
  • Assets that you and your spouse had before the marriage 
  • How assets attained during the marriage will be handled and divided 
  • Matters involving debt or creditors 
  • Benefits, inheritance, and trusts that children from any prior relationship may claim 

Your attorney can customize the terms of a prenuptial agreement according to the particular needs, goals, and situation about your upcoming marriage. 

The Forbes article mentioned above says discussing finances before and during a relationship can be highly beneficial. Research has shown that disputes over money are the best predictors of divorce. If that is the case, a prenuptial agreement that lays out the financial situation of both spouses before a marriage could go a long way in preventing divorce. 

The disclosures made in divorce should also be made before a marriage begins – income, property, student loans, credit cards, and more. 

Let Us Help You With Your Marriage Issues

The qualified and experienced team at the Law Offices of Ronald K. Stitch is ready to help you get through whatever situation you face. If you are getting married and are considering a prenuptial agreement, we will help you make the plans. If you and your spouse are considering divorce, we will work to ensure that you are treated fairly throughout the entire process. Our goal is to reach a favorable resolution so you can get started with the next chapter of your life. When you need a Simi Valley prenuptial agreement attorney, you can contact us for a free consultation by clicking here or calling 818-707-0203.

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