In a serious relationship? Recently Engaged? Whatever is making you think of wedded bliss, it’s important to remember the importance of a prenuptial agreement in certain situations. We’re in the middle of peak wedding season, which typically begins late Spring and runs through mid-Fall. So, there’s no better time than now to look into some reasons a Prenuptial Agreement form might be right for you love bird’s circumstances.
So, what is a Prenuptial Agreement Form?
This form, or document, specifies the assets and liabilities that each individual brings to the union, and determines what each individual's property rights will be throughout the marriage and should it end in divorce. If one of the spouses dies, unfortunately, the prenuptial agreement form can ensure certain interests continue to be followed and protected.
A Prenuptial Agreement Form is an Estate Planning Tool that Protects the Financial Interests of a Couple & their Heirs.
Who needs a Prenuptial Agreement Form?
If any of these apply to your or your future spouse, a prenuptial agreement form is something you definitely need to consider.
You Own a Business – This will ensure that should your marriage end, your spouse will not gain any control in that business.
You Earn Significantly More than Your Partner – A prenup can be used to limit amount of alimony that may be required should you split.
You Earn significantly Less than Your Partner – A prenup can also protect the weaker partner & make sure you are compensated fairly.
It’s Marriage #2, or #3, etc. – Without a valid prenup in place, children from a previous marriage may not be provided for per your desire. It also helps with any property from previous arrangements.
It is an Estate Planning Tool – A Prenuptial Agreement form helps ensure that your Estate Plan is being enforced to your wishes.
When Should I Complete a Prenuptial Agreement Form?
If you’ve decided a prenup is right for your situation, it is advised to meet with an attorney as soon as possible. They will advise you on how long it will take to draft the prenuptial agreement form for you (not typically very long), unless you have a huge list of special situations or you & your partner aren’t agreeing on certain arrangements. In those cases, the prenup might take a lot longer.
You’re already married and forgot the Prenup?
Don’t worry! Meet with your attorney, there’s other Estate Planning documents that they can help you with that can potentially give you the same results.