Monday, February 3, 2014

Getting married? Do you understand what a pre-nup can do for you?

Pre-nuptial agreements (more commonly "Pre-nups") are becoming more and more popular among all age groups.  This is probably because people are learning more and more about what a pre-nup really is and how it can work for them.

Everyone hopes when they marry someone that it will last forever.  Unfortunately, we hear all too often about the high rate of divorce in America.  A pre-nup can help you and your soon-to-be spouse work out the logistics of a marriage and possible divorce ahead of time.

In a pre-nup, you can set out an agreement on life insurance policies to be held for the benefit of each other, details about how wills will be drawn up, and how property (even property you don't yet have) should be split up if you do end up in a divorce.  You can, essentially, set out whatever details you want in a pre-nup as long as it does not violate public policy (for example, you CANNOT pre-determine child support in a pre-nup). 

Pre-nups should be discussed, formed and signed well ahead of the wedding date.  It is important for most people that both parties full understand the goal of the pre-nup and agree that a pre-nup is a helpful tool for them in planning their future.

If you would like a consultation or information on a pre-nup agreement, please contact us at (804) 447-0146 or clbaudean@baudeanlaw.com.