When are prenuptial agreements essential?

On Behalf of | Jul 28, 2020 | Prenuptial Agreements

Some say the divorce rate in Virginia is as high as 50%, yet so many couples tie the knot without discussing future possibilities. Understandably, prenuptial agreements can be difficult things for couples to talk about. Nothing says romance like discussing divorce before the marriage even begins. In some circumstances, however, prenups are an essential part of the marriage.

A prenup is important for many reasons, but most notably because it dictates the distribution of assets and income in the event of a marital breakup. A prenup could be necessary for any marriage that involves the merging of multiple families into one, such as a second marriage with children. This type of situation could make for complicated financial discussions down the road. A prenuptial agreement would most definitely cut out confusion and frustration in the event of divorce or death.

Also, when an individual is bringing a family business into the marriage, the couple should strongly consider a prenup. A premarital agreement could prevent a multi-generational family business from being broken up in the event of a divorce. Most experts agree that prenuptial agreements are essential in a marriage any time one partner has more assets and wealth than the other.

Prenuptial agreements that are structured correctly by individuals who have had proper consultation can make things much easier if the marriage were to dissolve. Working with the right professionals will help couples in Virginia determine whether a prenup is right for their specific situation and relationship. Couples who have questions pertaining to prenuptial agreements can obtain much-needed guidance by each consulting with an experienced and knowledgeable family law attorney.