A prenuptial agreement probably does not sound romantic or sexy, but couples who choose to enter into this contract prior to marriage are actually performing a mutually beneficial favor by looking out for one another’s best interests in the event that the marriage does not work out. Prenuptial agreements tend to have a bit of stigma attached to them, but the fact is that having this contract in place will spare both parties an unnecessarily messy split.
A prenuptial agreement lays out the guidelines for dividing assets, property, and debt when spouses decide to call it quits on their marriage. How is this beneficial for both parties? Well, the longer your divorce case takes, the more money you will both likely spend on legal fees. Not to mention that a long, drawn-out divorce can be stressful and emotionally challenging. A prenuptial agreement may significantly reduce these hardships.
Below is a list of some of the benefits of divorcing with a prenuptial agreement:
- Your separate property may be protected: A prenuptial agreement allows both parties to document their separate property. This includes that any of the property you owned prior to the marriage may be protected by a prenuptial agreement and clearly identified as your own.
- You can determine jointly held property: Just as a prenuptial agreement allows you to determine which property is separate, it also allows you to clearly identify marital property. Oftentimes, in a divorce, one of the key issues that often takes the most time is figuring out what is separate property and what is marital property, so having a prenuptial agreement which identifies separate and marital property may be helpful.
- You can make special agreements: A prenuptial agreement allows for some customization when it comes to divorce. For example, a couple can agree to put in a clause that allows them each to try to keep a house if more than one is purchased throughout the marriage.
- You can assign debt: If either party has debt before going into the marriage, these debts can be outlined in the agreement to request that the person who incurred the debt is still solely responsible for it after a divorce. Additionally, if either spouse went back to school, you can also outline who will be responsible for the payment of these debts.
Ultimately, for spouses going through a divorce with a prenuptial agreement in place, a lot of the frustrations involved in a divorce without one may be substantially reduced, allowing both parties to go their separate ways relatively unscathed. However it is up to the Judge in your case to determine whether the provisions in the prenuptial agreement will be enforced.
Experienced Divorce Attorney in Chesterfield
If you and your spouse are unable to make your marriage work and are now moving forward with a divorce, you should consider seeking skilled legal representation as soon as possible to ensure your interests are protected. At Galmiche Law Firm, P.C. in Chesterfield, our family law attorney is backed by more than three decades of legal experience and is committed to helping clients navigate the divorce process.
Get started on your divorce case today and call our law office at (636) 552-4841 to schedule a consultation and learn more about how we can assist you.