Do I Really Need a Prenup?

Do I Really Need a Prenup?

 

For a lot of people the answer may be “no, you don’t actually”.  I’m not one of those attorneys that thinks everyone needs a prenup.  There are some people who can really benefit from a prenuptial agreement though.

So, who actually NEEDS a prenup?

That guy that has a bunch of money and married a trophy wife.  We all hope that the rich guy and the trophy wife make it for the long haul, but if we had to place a bet, we more than likely put our money on their relationship ending in a divorce.  That guy definitely needs a prenup.

The man/woman who is going on their second, third, or forth marriage and had children from their previous marriage.  You want to be sure to protect your assets so that you can leave something for your children.  This way, in the event of an unforeseen death, or a divorce, the new spouse doesn’t get more than you would like them to and you can leave something for your children or grandchildren.

The woman who owns her own business.  All those entrepreneurs out there, they definitely need prenups.  If you put in the time, effort, sweat, and tears to build a successful business, you should take the steps to protect it from the havoc of a divorce.  My most complicated cases are the ones where one of the parties owns a business.  The parties can almost never agree on the value of the business or the business’ cash flow.  We then have to bring in a forensic accountant to value the business and determine cash flow.  This gets expensive and the attorneys fees and headache can be prevented by a prenup.

You’re not exactly sure that your bride/groom is “the one”.  People get married for different reasons.  Some people feel like it’s just the right time in their life to get married, or they want to have a baby but feel that they should be married first.  Some people feel like they’ve been dating for too long not to be married.  Whatever the case may be, if you have cold feet, a prenup is likely a good idea.

Why is a prenuptial agreement a good idea?

With a prenuptial agreement, you can protect your assets and have some control over spousal support liability.  I personally think the best reason to get a prenup is that it makes your divorce much easier, much quicker, and much less expensive.  Many of the issues couples fight about wouldn’t be an issue if they were terms of the prenup.  You never hear anyone say, “Oh, I really wish I wouldn’t have gotten that prenup.”  No, instead you hear, “I wish I would have had a prenup!”

If you want to know more information about prenuptial agreements and how to get one drafted and implemented, give Mioni Family Law a call at (424) 259-1770.