Divorces can be complicated and messy, particularly when it comes to dividing the assets you have acquired during the marriage. Fortunately, by planning a little before marriage, you can significantly reduce the complications and messiness associated with a divorce, and possibly eliminate them altogether. How, you ask? With a Prenuptial Agreement.
What Is A Prenuptial Agreement?
A Prenuptial Agreement, or “prenup” for short, is a written agreement you reach with your soon-to-be spouse before marriage. The intention is to determine how property, financial accounts, retirement benefits, and debt will be divided in the event your marriage ends in divorce. In addition, you will want to define “separate property”, that will remain the property of one spouse, and as a result will be excluded from the marital estate. The “prenup” serves as a way for soon-to-be-spouses to agree on how assets and debt will later be divided upon divorce. A Prenuptial Agreement can also resolve support and alimony issues. Thus resulting in further limiting those matters that require litigation and court involvement when a marriage ends in separation and divorce.
Financial Incentives Of Prenups
Prenuptial Agreements may be financially beneficial to both spouses, when done correctly. In some cases, the parties may decide that one spouse should enjoy greater financial protections than the other. Either way, when preparing a Prenuptial Agreement, you may require the guidance of a seasoned family law attorney to ensure it is done correctly. If you believe a Prenuptial Agreement is appropriate for you, please contact our family law attorneys for a consultation. Contact Pyfer Reese today.
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For accurate legal advise to your case, contact out team of professionals today. Please note, blogs and news articles found on this website are to provide general information only. In no way does this article provide legal advice.
Several members of our team, at Pyfer Reese Straub Gray & Farhat PC, including Lancaster family law attorneys John F. Pyfer, Jr., Robert H. Reese, Jr., Christopher C. Straub, Sandra Edwards Gray, Albert J. Meier, Jeffrey C. Murse, Anthony Knabb diDonato, and Megan H. Herr practice in helping individuals with family legal matters. Let us help you through the process.