A prenuptial agreement is a written document between two people who are about to marry. This agreement determines who gets what if the marriage does not last.
Rich or poor, prenuptial agreements protect the assets of both parties in case the marriage is later dissolved. In most cases, people on their second marriage will want to get a prenuptial agreement. It protects assets they have accumulated from the first marriage for their children born of that marriage. In today’s world people are marrying later in life. This means they have been in the work force for many years and have accumulated assets that they do not want to lose. Another factor leading to prenuptial agreements is that they have seen some of their friends get wiped out by divorce.
A prenuptial agreement does not necessarily mean that the couple does not trust each other. The signing of a prenuptial agreement is usually done when marrying for the second time to protect the children from the first marriage.
The legality of a prenuptial agreement depends on the state in which you live. Signing a prenuptial agreement close to the wedding date will usually not be upheld in court. If no lawyer is present or if one lawyer represents both couples, one of the signers can claim that they did not understand the agreement.
If custody of children is included in a prenuptial agreement, a judge will more than likely ignore this clause. The judge will do what is in the best interest of the children.
Signing a prenuptial agreement does not signify that you expect your marriage to end in divorce. It should be viewed as an element of security in case things go bad and your marriage ends in divorce. Having a prenuptial agreement will help you avoid a lot of unpleasantness.