Many people in Arizona think of prenuptial agreements as something that only wealthy couples need. While wealthy couples can benefit from signing prenuptial agreements, a prenup can benefit people in a variety of financial situations. Here are some of the other situations where a couple might benefit from signing a prenup.
When should a couple sign a prenup before getting married?
Anyone who’s thinking about starting a business should sign a prenup before they get married. Prenuptial agreements can protect business owners in the event of a divorce. These documents help people prevent their business assets from being seized by their spouse, so their business can continue as it did before the divorce. This includes businesses that were started before the couple got married; even if the business itself isn’t marital property, the former spouse might be entitled to a share of business assets that were accumulated during the marriage.
Additionally, people with children from a former marriage can benefit from signing a prenup. This might seem unthinkable to newlyweds, who can’t imagine that their beloved spouse would try to seize their children’s assets. Unfortunately, people have no idea what might happen during a divorce. It might not seem like a romantic thing to do, but people with children from a previous marriage should sign a prenup to ensure that their spouse can’t seize their children’s inheritance in the event of a divorce.
How can couples ensure a legally binding prenup?
An individual might wish to hire an attorney to help them draft a legally binding prenup. An attorney may be able to help them write a clear, official document that covers all the bases in the event of a divorce. The attorney might offer guidance to help them protect their family wealth, business assets, children’s inheritance, properties, investments and other financial assets.