When Do You Need A Prenupital Agreement?
By Kirk Staley
When Do You Need a Prenuptial Agreement?
Introduction
If you watch television or movies on the big screen, you at least have some familiarity with the concept of a prenuptial agreement. In this regard, you may not know precisely what is involved in a prenuptial agreement.
In this article, you are provided with some basic information pertaining to prenuptial agreements. In addition, you will be presented some points to ponder to determine if a prenuptial agreement is correct for your personal situation.
What is a Prenuptial Agreement
A prenuptial agreement is a contract, a binding contract, that is entered into by two people who are contemplating marriage. Although the content of a typical prenuptial agreement can vary extensively, such a contract commonly includes for the division or property or assets as well as for spousal or other types of support should the marriage ever end up in divorce.
Points to Ponder: When Do You Need a Prenup?
There are some specific considerations that you need to take into account as you contemplate whether or not you should have a prenuptial agreement. These include:
Perhaps the primary factor that you need to take into consideration when contemplating the possibility of a prenuptial agreement is a review of your assets. If you have a significant number of assets and expect the value of your assets to increase during the course and term of your marriage you will want a prenup. This particularly is the case if there is a notable or significant disparity between your wealth and the wealth of your intended. If your potential spouse has a lower net worth than you do, you will want to give serious consideration to a prenup.
You will also want to pay attention to your projected income. If your income will far outstrip that of your potential spouse, you will want to consider very seriously entering into a prenup before you are wed.
Regardless of any disparity in wealth and assets and income between yourself and your intended, if you have children from a prior relationships, once again you will want
