Potential reasons to craft a prenuptial agreement

On behalf of Stange Law Firm, PC posted in Divorce on Monday, November 25, 2019.

When couples in Missouri and throughout the country get married, they are granted certain rights. However, they may also be bound by state law as it relates to how property would be divided in a divorce. In may be possible to customize those rules by creating a prenuptial agreement. Prenuptial agreements may also allow one or both parties to waive their right to seek alimony if the marriage comes to an end.

Prenuptial agreements may allow individuals to retain ownership of a business or other assets that they place a high value on. The terms of such an agreement can also allow individuals to protect themselves from being responsible for a spouse’s debt. In some cases, assets that are deemed separate property prior to a marriage will become marital property during the course of the relationship. For example, if a home appreciates in value, the appreciation may be considered joint property even if the house was owned before the marriage.

A prenuptial agreement could reduce or eliminate the chances of this impacting the structure of a divorce settlement. Couples who have children together or from a previous marriage may want to have a prenuptial agreement. This may make it easier for assets to be handed down to a child without interference from a former spouse.

The use of prenuptial agreements may make it easier to resolve property division and alimony issues before a divorce takes place. Those who have children may benefit from the fact that their divorces may be less stressful and take less time to complete. An attorney may review a prenuptial or any other type of agreement that a couple comes up with. This may help to determine if the document is still valid when a couple chooses to get divorced.

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