A wedding is one of the most exciting life events. Therefore, it is not unusual for excitement to result in overlooking some essential measures when planning a marriage. Nonetheless, it would help if you did not let the joy and excitement you feel make you skip some essential legal steps. For instance, you should not forgo taking the necessary steps to protect your assets in the event of a divorce. One of the best ways to do this is by investing in a prenuptial agreement. Read on to understand why it is essential to have one in place before tying the knot.
Importance of a Premarital Agreement
Some people may believe they should only have a premarital agreement if they don't trust their partner. On the contrary, this agreement is an essential document that can enable you to make informed and realistic financial decisions about your future. This is especially true when you work with a divorce lawyer when creating your agreement. The legal practitioner will help ensure that you and your partner are thorough, e.g., in listing every property you own. In case of marriage dissolution, this outline helps the judge to make informed decisions when separating the marital from the individually-owned property. Moreover, the agreement will help determine what happens with marital property.
It will also detail any interest you have in the assets your partner bought before marriage. An example is if you spent money renovating a house your spouse owned before you started living together. In this case, the judge will consider your contribution when deciding who has a right to retain the house. However, it is important to note that the judge can only make the right decisions if you keep updating your agreement. This is why it is advisable to work with an attorney who will help you update your agreement when necessary. They will also ensure that you and your partner sign the agreement after amendments to make it legally binding.
Importance of Working with an Attorney
Your lawyer's top priority is ensuring that your premarital agreement is legally binding. This will ensure that you and your partner get a fair share of your assets if you decide to dissolve your marriage. It will also work towards preventing disagreements and legal battles that may arise when deciding who will keep what after divorce. When you work with an attorney, they ensure that the details in your agreement comply with your state's divorce laws. They also take other necessary legal measures to ensure that your agreement offers the protection you need.
Some relationships change after marriage, which could lead couples to dissolve their marriage. Thus, you can find yourself in this situation even if you're currently in a good relationship with your partner. For this reason, you may want to ask a family lawyer to create a premarital agreement for you. This will protect your assets in case you decide to divorce your partner in the future.