When you are getting married or still enjoying the honeymoon stage, the last thing you may think about is the possibility of getting a divorce. Unfortunately, given the high rate of divorce, it may be a reality you may want to think about and possibly even be prepared for.
Marriage and divorce are both common experiences. In Western cultures, more than 90 percent of people marry by age 50. However, about 40 to 50 percent of married couples in the United States also divorce. The divorce rate for subsequent marriages is even higher.
Although it may not be healthy to consider a divorce from the day you get married, it is important to be prepared in the event you have no choice but to file for divorce.
The Importance of a Prenuptial Agreement
Most people go into a marriage thinking, “This is it,” but sometimes it turns out to be “it” and then it “isn’t.” One of the most important steps you can take to make a possible divorce process easier and less stressful is to have a prenuptial agreement drafted before getting married.
A prenup is an agreement to pre-determine the terms of a divorce before you have married and while things are friendly and everyone can have a cordial discussion.
Although some people may criticize prenuptial agreement as being a bet that you will divorce, in fact drafting one is often a good decision and similar to getting life insurance – even if you have no doubts about the marriage.
What If You Don’t Have Much Assets?
Regardless of your circumstances at the time of your marriage, a prenuptial agreement can be useful. Even if you don’t have much assets or don’t make much money while you are engaged, you never know what could happen during the course of your marriage – you may get a high paying job, win the lottery or receive a large inheritance. Prenups are signed before you get married, but the provisions can be included to handle future events such as these.
Why You Need a Prenup
A prenup agreement ensures that both spouses receive a fair outcome in the event of a divorce. This is even the case if you don’t have much assets. For example, if one spouse has a significant amount of debt, such as student loans, coming into the marriage, a prenup can prevent the other partner from becoming responsible upon divorce. A prenup can also be helpful if there is a significant difference in potential earning power or if one spouse stands to inherit a large sum of money during the marriage.
Call an Experienced Central Valley Family Law Attorney
If you are going planning on getting married and need a prenuptial agreement, it is important to hire a knowledgeable and experienced attorney to help prepare the agreement. For more information or to schedule a complimentary consultation with a Central Valley family law attorney, please call Gurjit Srai (209) 323-5558 or (559) 449-1447, or complete our online form.