No one likes to hear the word Prenuptial Agreement. However, for a second, third, fourth marriages, etc. they are vital to protecting your assets and your future. Usually, if this is your first marriage the parties are younger, have no real valuable assets and believe that if they build wealth together they should share in it if they were to get a divorce. However, if you have built wealth, a company, or have separate property that has been given you a pre-nuptial agreement signed by your spouse prior to marriage can save you the headache and heartache of having to give away half of it at a divorce. I recommend everyone on first (on up) marriage with any assets to sign a Pre-nuptial agreement prior to the marriage.
Understanding Prenuptials
Prenups, as they are often called, are merely contractual agreements between two people. They stand apart from the actual marriage certificate and ceremony. Further, they have nothing to do with religious beliefs. They are created to iron out any wrinkles or disagreements that may arise long before they become problems. They are to protect you from the devastation that a divorce can do to your separate wealth accumulated prior to or during the marriage. They can govern many things including the distribution of assets to alimony and even payment of attorneys’ fees. The most important thing a Prenup can do is protect wealth, property, business ownership, separate property, etc. that you developed and/or received prior to marrying your spouse.
Without a pre-nuptial agreement in a divorce all that prior earned wealth, property, business ownership, separate property, etc. can be included in the division of the marital estate at the time of divorce. It’s not saying that your current spouse will get half of it if you do not have a pre-nuptial agreement, however, that spouse will sure fight you for it. Because you can never predict the future and whether your current marriage truly will be the one to last, the only way you can really protect your pre-marital assets is by having your future spouse sign a contract exclaiming that in a time of divorce they will not get any of it. This will ensure that your hard-earned assets and/or inheritance and or business interests you have worked for are protected in the future.
Getting a Family Law Attorney for Your Prenuptial Agreement
It’s so important to hire the right attorney to help draft a legal and proper pre-nuptial agreement to ensure it is upheld in court if the parties were to divorce. If you are in need of a pre-nuptial agreement it is important to contact a knowledgeable family law attorney in Salt Lake City. CoilLaw, LLC has years of experience with domestic litigation law in Utah and can help you draft the proper pre-nuptial agreement. Let us put our skills to work for the best interest of you and your future. Call today at 801-781-5614 to speak with our knowledgeable family law attorney.
