Marriage is not just about two individuals coming together to become a family; it's a legal contract. This makes prenuptial agreements an essential part of marriage preparations. However, there is a common misconception that only wealthy people need a prenuptial agreement. This is not entirely true. In fact, anyone could need a prenuptial for several reasons.
While we believe everyone should have a prenuptial agreement, we have identified five groups of people that could benefit from a prenuptial agreement and the reasons behind it.
1. Business Owners
If you own a business or plan to set up one during your marriage, it's a good idea to consider a prenuptial agreement. A prenup can protect your business in case of a divorce. It can ensure that your spouse does not get a share of your business or incur legal authority over it.
2. Previous Divorcees
If you've been through a divorce before, a prenuptial agreement is essential to protect your assets. It can ensure your hard-earned money is not jeopardized or divided amongst your previous spouse or partner's possessions.
3. Couples Who Have Unequal Income and Assets
One of the most common reasons for a prenuptial agreement is to determine the distribution of assets and debts in case of a divorce. If you have unequal income, assets, or debts compared to your spouse, a prenup can help secure your share and prevent unfair distribution if your marriage ends.
4. Parents with Children
If you have children from a previous marriage, a prenuptial agreement becomes even more critical. It can ensure that your assets and properties go to your children in case of your untimely demise. A prenup can also help establish child support agreements and custody rights in case of a divorce.
Prenuptial agreements can further protect you and your spouse if you're a veteran. It can help draw up agreements on military pensions, benefits, and disability payments, among other things.
Chicago Prenup Lawyer
Getting a prenuptial agreement before you say "I do" can prevent a lot of complications that may arise in the future. It can protect your assets, businesses, children, and right to fair distribution during a divorce. Prenups may sound intimidating, but they are a wise precaution that can provide peace of mind for couples down the road.
In the end, anyone getting married should consider a prenuptial agreement. While you may think that you and your partner can amicably navigate any obstacles life throws at you, this is often not the case during divorce proceedings.
At Law Offices of Jonathan Merel, P.C., we are dedicated to helping couples navigate the process of drafting a prenuptial or postnuptial agreement with ease. We understand how important this document is to many couples and how it can impact your lives for years to come.
Call (312) 487-2795 or fill out our secure online contact form to get started with a prenuptial agreement in Chicago.