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Why a person could want a prenuptial agreement

by | Mar 3, 2020 | Divorce

Pennsylvania residents and others who are planning on getting married in the near future may want to consider a prenuptial agreement. Such an agreement is ideal for anyone who has assets that they want to protect or for anyone who is thinking about starting a business in the near future. It isn’t uncommon for wealthy parents or other family members to insist that individuals create custom marriage contracts before their weddings take place.

Those who are looking to start a business can benefit from a prenuptial agreement because it is impossible to predict how successful the company could be. Without a prenuptial agreement, a person might be required to evenly split a company that could be worth millions or billions of dollars. Jeff Bezos is an example of someone who started a successful company but didn’t have a prenuptial agreement with his former wife.

A prenuptial agreement can also be ideal for those who are entering their second or third marriages. It may be possible to ensure that an inheritance meant for a child from a previous marriage actually goes to that child. Finally, a prenuptial agreement could mean that a divorce can be completed in a timely manner and without a lot of stress. This is because the agreement will stipulate who gets a particular asset or if either party is entitled to alimony.

Generally speaking, the presence of a prenuptial agreement can make it easier to settle a divorce in a timely manner. An attorney may be able to help a person learn more about the process of creating such a document or review one that currently exists. If the agreement’s terms are not considered reasonable or valid for any reason, legal counsel may help a person renegotiate some or all of its terms.