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A prenuptial agreement can provide asset protection

| Mar 18, 2020 | Divorce |

Those who are considering marriage in Georgia should be aware of a prenuptial agreement and how it can help them. What this agreement does is protect spouses in the event of a divorce by spelling out ahead of time what the terms of the property division are. This reduces some of the upheaval and discord that is associated with divorce and can give people peace of mind when entering into marriage.

A prenuptial agreement protects parties who are bringing significant assets into the marriage in the event of a divorce. This includes people who have family money or even those with assets of their own. For example, if someone owns a business or intends to start one, a prenuptial agreement will ensure that their business is not harmed by a divorce.

These agreements are even more invaluable when it is a second marriage and there are children from the first one. Children often worry that their inheritance is at risk when their parent remarries. The prenuptial agreement will spell out there rights and can protect them. It is not an easy topic to broach with a potential spouse because they may view it as a lack of trust. That does not detract from the criticality of the prenuptial agreement and its ability to provide protection.

A divorce attorney may help advise their client as to the possible parameters of a prenuptial agreement. The attorney would be familiar with the laws of asset division in a divorce so he or she might give suggestions about possible provisions of a prenuptial agreement. Potential spouses need to err on the side of caution when it comes to this area because their assets are at stake. If the circumstances support it, they might consider drafting an agreement so that they can keep their assets in a divorce.

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