It depends. Although we enter into marriage with the expectation it will be forever, unfortunately, divorce happens. A prenuptial agreement (“prenup”) addresses financial issues and protects the interests of both parties. There are many reasons to have a prenup, including if one spouse has a significantly greater financial wealth or income than the other because the division of property and financial assets can be addressed. If you own a business, having a prenup will ensure that your ex-spouse doesn’t end up owning a share of it. If your spouse comes with significant debt, you can also agree that you won’t be responsible for same. A prenup can ensure that certain properties or inheritances/heirlooms stay in the family. For a second marriage, you may wish to set aside certain assets or provide for children from your first marriage. A prenup cannot address personal preferences, though, such as chore assignments or where to spend holidays.
Parks Zeigler, PLLC – Attorneys At Law
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