With one in three marriages ending in divorce, many are choosing to negotiate and sign prenuptial agreements. A prenuptial agreement is akin to a business contract between two parties; matters such as division (should death or divorce occur) of financial and personal assets, custody of children, division of property are all addressed within the document. Those who consider a prenuptial agreement may own a business, have substantial assets including inheritance, have children from previous relationship, and/or may have the potential to see income increase over the duration of the marriage (i.e. a doctor or entrepreneur).
A prenuptial agreement, where properly negotiated, can protect:
Prenuptial agreements can not be used to:
If you intend on entering into a prenuptial agreement, do so as early as possible prior to marriage - this insures that neither party is surprised by the nature of the agreement. Hopefully you and your spouse will live happily ever after...