Why Prenuptial Agreements Aren’t Just for the Wealthy
The last thing marrying couples expect is that their marriage will end in divorce. No one expects they would be hospitalized either, but they do have health insurance, which helps them not have to pay those bills out of pocket. Similarly, a prenuptial agreement made by experienced divorce lawyers in Hinsdale is insurance that can protect your future post-divorce.
Top Reasons for Getting a Prenuptial Agreement
Whether rich or just financially stable, a prenup can ensure your assets and family are protected. Here are some of the reasons why:
Protect Your Children and New Spouse
If you are getting married again and have children from a previous one, a subsequent divorce can complicate matters. Set some financial standards or agreements in place in a prenuptial agreement to avoid conflicts. It will protect your children from the effects of your previous divorce and your new spouse.
Premarital agreements such as a prenup can ensure your assets are protected or allocated to your children and which ones will be safeguarded for a new spouse. This includes inheritances, property, cars, etc.
Protect Yourself from Debt
Why should you pay for debts your spouse incurred before your marriage? You can protect yourself from that scenario with a prenuptial agreement. If the marriage does not survive, as the non-borrower, you can use the agreement to get refunded if. If your spouse racks up your debt in the form of college tuition, you should ensure you can get that money back if you get divorced.
Ensure a Stable Future If You Earn Less Than Your Ex-Spouse
If you want to remain at home to take care of your children or because you do not have the qualifications to get a well-paying job, a divorce can be particularly difficult for you. While you were taking care of the children, your spouse was busy building his career and prospects. In that case, you will only be able to get entry-level jobs that may not be able to support you or your family.
Half of the marital assets will come to you with a prenup agreement, so you may not have to work or spend money on an expensive education.
What a Prenup Agreement Cannot Do
A prenup agreement can address these concerns:
- How assets are distributed in case a spouse dies.
- How financial issues are managed in case of a divorce.
However, you cannot use it to determine child custody and visitation rights post-divorce. The court decides those, and the parents cannot remove that authority. Child support is set as per specific guidelines and can only be changed if there is a change in either party’s financial circumstances. Parents cannot agree to terms to establish child support amounts in advance or agree to terms different from the State’s.
Contact Dan Walker for a Free Consultation
A divorce can turn your life upside down and even bankrupt you if you don’t have a prenuptial agreement. Dissolving a marriage can be emotionally and physically devastating as it is. You do not have to go through this difficult process alone. If you are looking for experienced divorce lawyers in Hinsdale, contact Dan Walker Law Office.
(Updated 2024)
