The Benefits of a Prenuptial Agreement

The Benefits of a Prenuptial Agreement

When two people enter a marriage, they go into it believing that their union will last forever. And when planning your wedding, the last thing you are thinking about is divorce. As a couple who is planning on getting married, you are hopeful that your marriage will last a lifetime and generally, you’d like to avoid discussion of “what if.” But the reality is that some marriages do not last forever. This is why prenuptial agreements are so important, as many spouses realize their worth as an individual and prefer to keep their independence – even after they get married. 

When entering a marriage, there are many financial elements (including debts) that each spouse must think about. Perhaps one spouse owns real estate, has stock investments, or  businesses that they worked so hard for and would like to maintain possession of in the event of a divorce. Another example to think about is graduate school that resulted in a large amount of student loans or credit card debt for another spouse. In this case, it is important to understand how a prenuptial agreement would be useful in the event of a divorce so there is clarity in terms of what life will look like after for those “what if” situations.

A prenuptial agreement can be beneficial for both parties, as this generally means a much smoother separation if a divorce was to occur. Prenuptial agreements are also very common for business owners who wish to keep their business separate from marital property. Another common example as to why a prenuptial agreement may be beneficial is because one spouse acquired certain assets from a previous marriage and wants to maintain sole ownership of those assets.

There are various reasons as to why prenuptial agreements are made. It is important to realize that the topic of a prenuptial agreement is not ‘taboo’ like many people used to believe. Today, many people wish to protect their best interests no matter what. 

Prenuptial agreements allow you to clarify the following in the event of divorce:

  • Avoid disagreements about property division in a divorce
  • Determined whether or not you have to be responsible for your spouse’s debt in a divorce
  • Allows you to make decisions surrounding property division upon a divorce
  • Protects your personal property
  • Protects inheritance rights of children
  • Protects your business
  • Protects your best interests in terms of high net worth spouses
  • Provides full control over finances and properties
  • Determines the amount and duration of spousal support/alimony in the event of a divorce or can serve as a waiver of such
  • Determines access to retirement accounts or can serve as a waiver of such
  • Determines how living expenses will be shared and/or paid
  • Prevents the need and/or limits the cost of litigation 

At LLM Family Law, our Beverly Hills divorce lawyer understands just how important prenuptial agreements are. These types of agreements can be extremely complex, especially for divorces that involve a high level of assets, net worth, and more. Our team has extensive experience drafting such agreements to ensure that your best interests are protected in the event of a divorce.

If you are seeking a divorce lawyer in Beverly Hills that has years of experience preparing prenuptial agreements and providing excerpt advice, our team is here to help. Contact LLM Family Law to schedule a consultation and learn more about how a prenuptial agreement can protect you.

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