Who Needs a Prenuptial Agreement?
What is a prenuptial agreement? Do I need one? If you have questions about a prenuptial agreement, please consult the family law attorneys at Eagle Law Offices, P.S. They are proud to serve the Everett area.
Despite the best intentions and hopes, some marriages end in divorce. If divorce is a possibility, it is important to protect your assets. This is where a prenuptial agreement is important.
A prenuptial agreement is a written contract signed by both parties prior to marriage. It states exactly what happens to each person’s money, property (personal and real), pensions and future earnings should the marriage fail. Although persons with considerable assets use prenuptial agreements traditionally, any couple, regardless of wealth, can elect to have a prenuptial agreement.
There are several advantages to a prenuptial agreement. Without a valid prenuptial agreement, and upon divorce, the Court can order an equal division of assets or a disproportionate division of assets and debts. If you come into the marriage with substantially more than your partner does, you could lose much in a divorce. In essence, a prenuptial agreement sets the standard for who gets what and how much. It also can reduce conflict when everyone knows the agreed division of assets and debts.
Some people are reluctant to consider a prenuptial agreement because it seems like they are “planning” for their marriage to fail. However, should a divorce occur in the future, a prenuptial agreement can reduce legal fees and significantly assist in determining the terms of a divorce settlement.
Consult family law attorneys, Eagle Law Offices, P.S., with your prenuptial agreement questions at 206-426-6961.