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Tag: Prenuptial Agreement

Types of Prenups

Types of Prenups

The wedding plans are in motion and it seems that there are a million details to attend to before the big day.  While you, ever the romantic, are pondering over what color butter cream roses should adorn the wedding cake, your intended tells you he has made an appointment for both of you to see a divorce attorney.  “A divorce attorney?” you ask with a smirk on your face.  “Why would we see a divorce attorney – we’re not even married!”  “To get a prenuptial agreement in place” is the response.  Immediately your eyebrows go up in a quizzical manner and you feel your mouth form a perfect “O” as you feel you might faint dead away.

While this scenario might sound like it straight from out of the afternoon TV. soap operas, it is a scene that happens more and more these days.  In an age, where nearly half of all marriages eventually are dissolved, one can never be too prudent.

What is a Prenup

What is a Prenup?

The mood is just right… a romantic, candlelight dinner for two in an elegant restaurant and when the dessert arrives, there is something much sweeter than the crème brulee, as the gentleman suddenly pulls a velvet box out of his chest pocket and pops the magical question to the woman.  We’ve seen enough romantic movies to know that the question is “will you marry me?”  After the young lady answers in the affirmative, suddenly there are a flurry of decisions to be made and many details to be dealt with before the big event.

But, should one of those details be putting a prenuptial agreement in place before the wedding day?

Nothing puts a kibosh on upcoming nuptials more than talking “prenup”, a word commonly used to describe a prenuptial agreement, or a “contract” that is created between two people before they marry.  This prenuptial agreement may exist between two heterosexual individuals, or, a same-sex couple.

When you read the title of this post:  “What is a Prenup?” you might have scoffed at the topic, thinking prenuptial agreements are just for the rich and famous and not applicable to everyday people.  If a budding romance seems headed to marriage in the near future, you should check out some of the reasons why you might want to consider the practicality of a prenuptial agreement, rather than merely dismissing it as something that is irrelevant to your relationship.

What is a Prenuptial Agreement?

Prenuptial Agreement
Prenuptial Agreement

A prenuptial agreement is a binding contract between two people who are intending to get married. The main purpose of this type of premarital contract determines the control of property, child-rearing or financial assets should the couple face a divorce. Typically, a prenuptial agreement is used by one or both spouses in order to keep income and personal property separate during the marriage. In many states an individual who brings a large amount of cash or property into the marriage may lose much of it to the other spouse in the event of a divorce. This is because it becomes marital property which must be shared if the couple divorces at a later time.