With a large number of marriages ending in divorce and people then getting remarried, prenuptial agreements are becoming more popular among engaged couples. While some may think that prenuptial agreements doom a marriage to end in divorce, these agreements can actually provide a better understanding of the couples’ financial assets and liabilities. Georgia couples considering marriage may choose to obtain the guidance of a family lawyer as they move through this process.
A prenuptial agreement can serve a similar purpose as car insurance. Although hopefully nothing will happen so that it has to be used, it is there just in case. When creating this agreement, being up front with one’s finances and property is crucial. It is important to distinguish between what may be premarital property and what may become marital property.
Getting the process started well before the wedding allows both parties to be comfortable and take their time coming to an agreement. Having a mutual understanding of individual and shared assets and property leaves no room for conflict down the line. Furthermore, addressing how the death of one party would affect the other party concerning property and financially could also be beneficial for the couple.
A prenuptial agreement does not have to be a death sentence for one’s marriage. It can provide a foundational understanding of the two parties’ finances, while also creating an understanding of how things could be divided in the case of divorce or death. Georgia family lawyers have experience creating prenuptial agreements for couples of various backgrounds and situations. Those considering getting married or approaching their ceremony can seek out the guidance of these professionals.
Source: wealthmanagement.com, “Seven Steps to Building a Better Prenup”, Jeffrey A. Weissman, May 11, 2017