Apart from the news of costly divorce trials, celebrity marriages often focus on prenuptial agreements. Many people think that such agreements are only for the A-listers and rich people who have a lot to lose. Prenups, however, are definitely more than that.
While some contest that having a prenup is the right way to question your partner’s trust and integrity, it is highly necessary if you want to protect both sides’ expectations and interests.
Law firms, such as matthewsfamilylawyers.com, may note that the main purpose of prenups is to address the clear divisions of property. It will recognize that the assets you acquired before marriage are yours and yours alone; they will not become part of the marital property once you get married. It will also make clear that there are some properties that both of you owned while married.
There are times when the marriage involves the family business of one of the spouses. A prenuptial agreement will make sure that the enterprise will be out of the picture in case things get sour. It will specify that the business is a separate asset, unless the couple mutually decided to build it and had a fair share with it, in which case it will be called a martial asset.
There are some states that consider marriage as an economic collaboration. This case grants that professional licenses will become a marital asset, provided that one of the spouses made significant sacrifices to enhance the earning capacity of the other. Other provisions and conditions may depend on the state.
Prenuptial agreements may appear as an exit plan, which may somehow offend the essence of marriage. Nonetheless, this is an important aspect to think through, especially if you do not want both parties to undergo unnecessary troubles in the future.