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Guidelines for your prenup

On Behalf of | Jan 12, 2018 | Prenuptial Agreements |

So maybe your first marriage did not end well. It happens. Millions of people have walked down the aisle only to find themselves speaking to a divorce lawyer 10, 20 or 30 years later. Simply because it did not work out the first time does not mean you should not get married again in the future. However, before you tie the knot again, put to use the lessons you learned the first time.

A prenuptial agreement is an extremely important and valuable tool that can protect your assets in case of divorce. It is even more useful if you have children from a previous marriage and want to protect their interests. Keep the following prenuptial guidelines in mind when you start drafting a marital agreement.

Full understanding

Both you and your future wife need to fully understand the terms of the prenuptial agreement. In addition, both of you must provide complete financial documents and disclose all of your assets. Also, the two of you must have separate independent legal representation.

Negotiate before the wedding

A prenuptial agreement is not something you put off until the week before the wedding. Furthermore, you should get the prenup out of the way before you even start planning the wedding. Doing so will allow you to enjoy the planning process and have some fun. In addition, if you sign the prenup too close to the date of the wedding, you run the risk of a divorce court ruling against it if you divorce later on.

A postnuptial is also an option

If you do not get around to drafting a prenuptial agreement, you still have the option of a postnuptial agreement. Essentially, the two are the same thing and serve the same purpose; the only difference is whether you draft the contract prior to the wedding or after.

If you are considering a second marriage, it is important to take steps to protect your assets. A prenuptial agreement is great way to do this so that you enter your next marriage with some security.