While many think of a prenup as something for the rich and famous, studies have shown that millennials are starting to get married later in life. When you enter a marriage later in life, you bring more assets, financial wealth, businesses, properties, or even children.
At Miley Law, our attorneys are well-versed in helping people create, challenge, modify or enforce premarital agreements. We are experienced lawyers that understand how challenging these conversations can be. Our law firm is here to provide advice and representation on these topics so that you are protected in the future.
What is a Prenup?
Love is great, but a little legal protection doesn’t hurt. A prenuptial agreement is an agreement couples make before the marriage that details what will happen to any property rights, financial interests, or custody arrangements in the event of a divorce. Making this agreement before the complicated and emotionally charged atmosphere of divorce allows couples to set boundaries and establish the expectations of the marriage. Marriage is an emotional partnership, but the financial partnership is one of its strongest pillars. Building a strong foundation is crucial to saving heartache and tension later.
How a Prenup Can Help You Protect Assets and Prepare for the Future
The most important reason to have a prenuptial agreement with your spouse is to protect any property or high-value assets you bring into the marriage. When you enter a marriage with significant assets such as property, vehicles, or businesses, you will ensure that these are kept separate from the marital estate.
Significant assets that may deem a prenup necessary:
- Property
- Stocks
- Vehicles
- Businesses
- Boats
These are just a few examples of assets that may warrant consideration of a prenuptial agreement. Consulting with an experienced attorney like those at Miley Law can help you determine if a prenup is right for you and ensure your interests are protected.
Ensure Your Financial Stability After Divorce
When you face a divorce court, a judge will assess your marital estate, divide everything financially, and sometimes set up alimony payments. A prenuptial agreement is necessary to protect your future financial stability. Without one, you risk losing a significant amount of money, and any future income can be impacted by what is decided during the divorce. Clarifying your future responsibilities and expectations regarding income or debt is the best way to protect yourself.
If you have concerns about your financial future, particularly if you have high income, significant debt, or substantial retirement assets like 401(k)s, a prenuptial agreement can provide peace of mind. An experienced prenuptial agreement lawyer can guide you through the process and help you draft an agreement that protects your interests while fostering open and honest communication with your partner.
Planning on Being a Stay at Home Parent?
Discussing children and how they are to be raised is a large part of the marriage agreement and discussion. When one spouse agrees to put their career on hold or gives up their career opportunities, it can be almost impossible to rebuild their footing in the face of a divorce. A prenuptial agreement can help protect the interests of stay-at-home parents by fairly addressing contributions to the household and ensuring their financial security.
Protect Your Children’s Inheritance
At Miley Law, our family lawyers understand the importance of protecting your family's future. Prenuptial agreements offer a valuable tool for safeguarding the inheritance of your children, especially if you have children from a previous relationship.
While custody and support arrangements for children are typically determined based on their best interests, a prenuptial agreement can provide crucial safeguards. It can help ensure that any inheritance you intend for your children remains separate from marital assets, minimizing the potential for division during divorce proceedings. By carefully outlining your wishes regarding the distribution of your assets, you can provide greater peace of mind and ensure your children's financial security, even in the face of unforeseen circumstances.
Prenuptial Agreements Made Easy with Miley Law
Conversations about creating a prenup can be challenging, but they don’t have to be as awkward as a first date. At Miley Law, our attorneys are experienced in helping people create, challenge, and modify premarital agreements. We all want our marriages to end happily ever after. But sometimes they don’t, and when they don’t, our experienced legal team is ready to discuss your rights and enforce your prenuptial agreements. Contact Miley Law today to plan for your future and protect your assets.
