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A Prenuptial Agreement Is Not Just For The Wealthy

A prenuptial agreement is a recognized contract that two people negotiate before they get married. If for instance, one of the partners in the relationship is much more affluent than the other or is the owner of extensive property, he will often ask his fiance for a “pre-nup.” This may be his way of assuring himself and his family members that the ownership of said property or any other assets that may have been handed down through the generations, will be secure. This is the more traditional understanding of a prenuptial agreement.

With changing times however, prenuptial contracts are becoming more common. A lot of couples have children from previous marriages and want to come to some agreement with each other about what assets will be set aside for those children. If this is taken care of before the marriage it can prevent any confusion later.

Finances may figure into the reasons behind having a prenuptial agreement in place before wedding vows are exchanged. Some couples want to be clear about who is going to be responsible for what debts or payable accounts. It is often the case that a newly married couple will live in a home that is owned or rented by one or the other. If so, will the new spouse offer to help with the mortgage, or meet the rental payments? These matters can be resolved with a prenuptial agreement.

Divorce is another consideration. Couples getting ready for their wedding day don’t want to think about breaking up, but it may be a practical thing to do. If issues like property settlement are agreed to in a prenuptial contract, proceedings can go a lot smoother if the marriage should fail. Alimony may also be considered in the contract, although state laws may determine the particular terms.

A prenuptial agreement is a legitimate legal document, recognized as valid in most courts. It must be drawn up according to regulations that may vary from state to state. Each partner entering into the agreement should have his or her own lawyer go over the final draft before signing.

Consult with a family law attorney from the Parker Lawyers firm in Parker, CO. Call today @ 303-688-0944.

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