When preparing to marry, a Virginia couple is likely not thinking about what could happen in case of a divorce. While it may seem like an unnecessary and unpleasant thought, it may actually be prudent to consider what could happen if the marriage ends at some point in the future. A prenup can help prevent unexpected events that may cost a spouse time and money during his or her divorce.
Who really needs a prenuptial agreement?
These contracts are not reserved only for the rich and famous. Couples of all income levels may benefit from the protections provided by a prenup. These agreements outline how property division will work in the event of a divorce, helping a couple avoid expensive litigation and court battles that may cost time and money.
Prenups are especially useful for individuals who may have closely held assets they wish to protect. This includes small business interests or an inheritance. They are also especially useful for those who have children from previous marriages or specific financial concerns they would like to address before they marry.
A custom-tailored agreement
It is possible to custom-tailor a prenuptial agreement to suit the individual needs and concerns of the couple. The two parties can negotiate terms, discuss important objectives and reach a conclusion that will allow each party to feel confident about the future. In order to reduce the chance of future disputes and ensure the contract’s validity, it is helpful to work with an experienced Virginia family law attorney when drafting a prenup.