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Protect your and your spouse's wishes with a prenup

It seems like every week we hear about yet another celebrity breakup. While many of them are short-lived, if there are substantial assets involved, one side could stand to gain from the breakup. Even for non-celebrities, if you or your spouse has a high net worth, things could get tricky when trying to resolve property division.

If you are entering into a marriage with substantial assets, it might be in your best interests to consider signing a prenuptial agreement with your spouse. While a prenuptial agreement can certainly help in assuring that your wishes are met when entering into a divorce, a prenup can also help a happily married couple.

Prenuptial agreements may also include how finances are handled during the course of a marriage. This could include how much of each's earnings go into costs and investments in a home, how much is put into individual or joint bank accounts, and how bills are paid and incomes are distributed between each spouse. They can also be used to help determine how assets are divided in the event of the death of one spouse.

It is not uncommon for high asset divorces to end with either one side unhappy or neither side satisfied with the results. One of the best ways to prevent this from happening, and to prevent many of the inevitable headaches and disagreements that occurs with a divorce, is to have a prenup. There may never be an ideal time to have a discussion with your fiancé about the possibility of a divorce, but it could prove to be helpful in the long run.

Source: FindLaw "Can Prenuptial Agreements Help You?" accessed on June 20, 2017

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James H. Snyder Attorney at Law
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