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Are Prenups Just For The Wealthy?

admin_legalcounselingDecember 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 make use of 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 all of their pre-marriage needs. Today, our Simi Valley prenuptial agreement attorneys want to discuss what goes into these types of agreements. 

Prenuptial Agreements Are Not A Bad Thing

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

At the Law Offices of Ronald K. Stitch, we could not agree more. There is a common misconception that a prenuptial agreement is another way of simply planning on 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 completely familiar with them, is often composed of several protections, including: 

  • A fair division of any marital property 
  • Assets that you and your spouse had prior to 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 pertaining to your upcoming marriage. 

The Forbes article mentioned above says that discussing finances before and during a relationship can be extremely 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 that are 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 are facing. 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 by calling 818-707-0203.

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