A prenup is entered into prior to marriage and generally includes provisions for your assets, income, and spousal support in the unfortunate event of divorce, separation, or death. Prenups have been gaining popularity in the past few years. One reason is that the millennial’s have focused on their careers and postponed marriage until later. They have worked hard to acquire property they want to protect and/or want to avoid the debt of their partner. Another reason for prenuptial agreements is many couples have children from previous marriages and they want to protect their current assets for their children. This is especially true with older couples getting married later in life who want to protect their children and yet provide for their spouse in the event of death.
Divorce rates are increasing and many couples simply want to avoid the courts determining the division of their hard earned property and income. A few minutes up front can reduce the potential headaches down the road. This is one of the most important contracts a couple can enter into and should not be taken lightly. A well written legal binding prenup can many times prevent those nasty court battles down the road because most issues have already been addressed. Every couple’s situation is unique and personal and deserves the assistance of a competent lawyer.