Prenuptial agreements can be ideal for almost anyone who is strongly considering getting married. It can spell out the terms of an eventual divorce, and it may allow a person to keep a business or other valuable assets that they are bringing into the marriage. It can also allow one or both parties to the relationship to waive their right to alimony. If a right to alimony is not waived, a prenuptial agreement can still determine how alimony payments are to be structured.
For instance, payments could be based on the length of the marriage or other acceptable criteria. In addition to assets, prenuptial agreements can also decide what happens to debts that either spouse may have prior to a marriage. It may be possible for each spouse to agree that they will be responsible for their own student loan or credit card balances.
This type of pact could prevent separate assets from being considered marital property in the event that they are commingled during a marriage. Prenuptial agreements can address issues that have nothing to do with money. For instance, it may be possible to include language clarifying each person’s role within the household. The document could state that one parent is responsible for making dinner while the other is responsible for buying groceries.
A person may feel a variety of emotions such as fear and anger after his or her marriage comes to an end. These emotions may make it difficult to think in an objective manner during divorce proceedings. Therefore, it might be beneficial to negotiate the terms of a divorce before the wedding occurs. An attorney may be able to review a prenuptial agreement before it goes into effect to ensure that it is in a person’s best interest to sign it.