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Prenuptial agreement may be beneficial in event of divorce

For some couples ready to get married in New Jersey, thinking about the possibility of divorce is like thinking about the possibility of death: it is simply uncomfortable. For this reason, some couples enter marriage without putting together prenuptial agreements. However, not having a prenuptial agreement in place can be emotionally and financially costly down the road if these couples end up going through divorce.

Prenuptial agreements are created before marriage and spell out what will happen to certain assets in the event that a divorce takes place. These agreements offer a few important benefits. First, they can offer protection if a soon-to-be spouse earns substantially less money or has a lot of debt going into the marriage.

A prenup can also be important if one already has children from a first marriage. These agreements are particularly beneficial for those parents who are planning to stay home to rear their children. Finally, prenups can be helpful tools for promoting real communication about marriage and finances -- often two very difficult topics.

Some couples may think that drafting a prenuptial agreement is essentially planning to fail. However, in reality, working on such a legal agreement allows a couple to plan for a marriage where they actually agree on their finances. In addition, having it in place can help to avoid lengthy and contentious court proceedings, thus saving money and time and decreasing the emotional hurt caused by a contested divorce. An attorney in New Jersey can help with putting together a comprehensive prenuptial agreement that protects one's future best interests.

Source: poconorecord.com, "Prenup conversation worthwhile", Lois Heckman, May 6, 2017

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