A growing number of adults are utilizing prenuptial agreements that were once deemed only beneficial to the wealthy. A person considering marriage might be unsure if investing in a prenup is right for his or her individual situation. Asking a future spouse to sign a prenuptial agreement is not something that is done lightly, so the average person wants to be absolutely sure a prenup is something that he or she really needs. While everyone’s situation is different, there are a few scenarios in which you should definitely ask for a prenup.
Do You Have Older Children?
The number of adults getting divorced later in life is on the rise and a growing percentage of these divorcees are choosing to get remarried. Getting married when you have older children creates potential complications that younger couples do not always encounter. A person who has spent his or her life working to build a legacy to leave his or her children and grandchildren may be concerned about losing some of that legacy through a contentious divorce. Obtaining a prenup allows you to protect a large part of your assets by limiting what your spouse can take during a divorce. If you should pass away a prenup can also help your children secure your estate from claims made by a stepparent.
Do You Own a Business?
The United States is widely recognized as a country that encourages people to start their own businesses. Research has shown that over 27 million Americans are interested in operating their own business and approximately 14% of the population own their own business. If you have started or built a business prior to getting married a prenup will help protect your hard work and sacrifice. No one wants to spend years creating and establishing a business only to lose half of it during a divorce, especially if the marriage was short. When used correctly, prenups help to protect business assets during a divorce.
Do You Own Property?
Property ownership is often equated with success, with multiple generations striving to own better vehicles, homes, and investment properties than the generation before them. Homeowners make up 63% of the population and after the recession getting a home loan has become more difficult for many adults. Those who have either inherited property or managed to buy a property do not want to be forced to sell that property during a divorce, and prenuptial agreements are one way to avoid that situation.
Discuss Your Situation
Each situation is different, making it a good idea to discuss your needs and concerns with a qualified prenuptial agreement attorney. Speaking with an attorney can help you decide if an agreement is right for you and guide you the process of obtaining a one. The attorneys at Vayman & Teitelbaum understand that any conversation concerning prenuptial agreements is difficult, and we work with you to keep the process as painless as possible. Contact us today to schedule a consultation at one of our four conveniently located Atlanta, Georgia offices so that we can begin providing you with the legal advice that you need.