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Why and how to get a prenuptial agreement

On Behalf of | Sep 17, 2018 | Divorce, Firm News |

Some Nebraska couples may resist the idea of a prenuptial agreement. People may be concerned it will upset their families, or they may not want to share private financial information about debt and bankruptcy. They might even think a prenup could increase the chances they will get a divorce. However, many experts believe that prenups can offer important protection in particular to people with blended families, in second marriages or in ownership of a business.

In all of these situations, a person may come into the marriage with significant assets. A prenup may protect them if the marriage ends in divorce. Business owners might be concerned about losing a company to an ex-spouse in a divorce, and a prenup could protect against that as well. If one person has a tendency to spend more than the other, the prenup can specify that neither person is responsible for the other’s debts. If the couple has pets, the prenup may say who gets them in a divorce.

In a marriage where there is an income disparity, alimony may become an issue in divorce. The prenup can address this as well. This may be particularly important for people who left the workforce in order to raise children.

For a prenup to be valid, both people should consult an attorney. Both must also disclose all financial assets.

While the process of property division might proceed more smoothly if there is a prenup, a couple might also want to try to negotiate instead of going straight to litigation in a divorce. Litigation is an adversarial process, and both people may be unhappy with the final decision in court. Negotiation gives a couple the opportunity to create an agreement that suits their situation and preferences. For example, one person may want to keep the home while the other might want to keep a retirement account.