The benefits of a prenuptial agreement cannot be overstated. Although many divorces do not end up in court, they can still be extremely costly. Most people overlook the fact that marriage is a communion of property.
Deciding who receives what property can be a painstaking process requiring a lot of time and money. Lawyers can charge an average of $200 an hour to solve these problems for you. The minimal time investment of a prenuptial now can save you the potential cost and hassle of a difficult divorce later.
Prenuptial agreements primarily deal with couples who want to keep property separate and avoid court distribution in the event of divorce. Any kind of property can be included in the agreement, such as homes, automobiles, stocks, checking accounts, business interests and personal belongings. Debts can also be categorized as separate property. This prevents one spouse from being liable for the debts of the other should the marriage dissolve.