Prenuptial Agreements are often thought of as protecting a vast amount of wealth and not needed when assets are limited. The New York Times’s recent article “How Prenups Can Protect You in Case of a Divorce – The New York Times (nytimes.com)” reveals that prenuptial agreements are a wonderful tool for anyone.
Even when few assets are involved, they can make all the difference later on. As the article states, a prenuptial agreement “quickly clarifies where each person stands financially and creates a forum for a candid discussion of how each wants to manage his or her money after marriage.” Marriage has changed. How married couples approach their finances has changed. Prenuptial Agreements can help couples to be on the same page regarding their expectations during the marriage and how assets might be divided if they one day choose to part.
Prenuptial Agreements can be thought of more like estate planning: a tool to plan for the future. This way, you can breathe easy knowing what will happen, and often our clients prepare their prenuptial agreements and estate planning documents together, which saves time and money. I encourage you to read the article and if you would like to talk to an attorney about preparing a prenuptial agreement or estate planning documents (or both), our estate planning and family law departments will be happy to assist you.