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Why you should consider a prenuptial agreement

On Behalf of | Jun 19, 2020 | Divorce, Firm News |

If you are getting married in Pennsylvania, you need to consider whether a prenuptial agreement is right for you. There is a chance that you have heard that prenuptial agreements are only for the rich. In reality, prenuptial agreement can help anyone who has assets or will earn money in the future.

How prenuptial agreements help spouses

Prenuptial agreements protect people who are bringing anything into the marriage. This could include business owners who already own or are starting a business after the wedding. These agreements also protect people who have an inheritance. However, you do not need to have a large bank account to benefit from the certainty that a prenuptial agreement can provide. Divorce litigation can be expensive and bitter, and you may simply want some type of assurance that you will not end up in that place if your marriage is not successful. While prenuptial agreements may have had a negative connotation in the past, they are simply smart practice right now.

More millennials are signing prenuptial agreements

The trend towards a prenuptial agreement is being led by millennials. They are waiting until later in life to get married. As a result, they have higher earnings and more money in the bank. They also have student loan debt and want certainty as to how that would be addressed in a divorce. Finally, they are more likely to have been children of divorce who watched their parents battle over assets and want to avoid that fight themselves.

Prenuptial agreements can benefit from the advice and services of an attorney. Both you and your future spouse would need their own lawyer to negotiate the agreement. One area of uncertainty with prenuptial agreements is whether a court would enforce them. Hiring a lawyer could decrease the chances that the court would find your agreement unenforceable. The lawyer could help negotiate and draft an agreement and would keep you from having to deal directly with your spouse.