The Benefits of Prenuptial Agreements
While many brides and grooms to-be are hesitant to broach the subject of prenuptial agreements, the truth of the matter is that agreements prior to marriage reduces the potential for future conflict and is made when parties, arguably, are most enamored by each other, which helps to create fair agreements that take care of each spouse in the event of future dissolution. Premarital agreements are written contracts that will govern:
Premarital Assets and Marital Assets (assets that are acquired during the marriage)
Premarital Debts and Marital Debts (debts that are acquired during the marriage)
The benefits of premarital agreements include: reducing uncertainty as to assets, liabilities, spousal support, attorneys' fees, and overall costs of litigating a divorce; by delineating everyone's rights and responsibilities at the outset of marriage, parties are more likely to settle their differences in the event of divorce; parties are able to protect their pre-marital (and even marital) assets; and parties are able to delineate ownership of assets in the event of the untimely death of a spouse.