15 Mar The Prenup – A Difficult Conversation
Many people are scared to talk about prenups because it is never socially appropriate. A prenup is a term that is short for prenuptial agreement between future spouses to make decisions in advance about the property during the marriage and in the event of a divorce.
In some states, without a prenup, the income that one spouse receives during the marriage is considered marital property and belongs to both spouses. In a prenup, future spouses can agree that a spouse’s income will remain that spouse’s separate property during the marriage.
Also, a prenup can also define future spouse’s roles during the marriage and even dictate how they will divide household responsibilities. Younger couples and especially couples entering into their first marriage are often wary about signing prenups because they are more optimistic about remaining married forever. However, older couples and couples entering into their second or third marriages usually consider a prenup, especially when at least one spouse has already accumulated substantial property, or anticipate receiving substantial income during the marriage. Couples with children from previous marriages might also think about a prenup to protect their potential inheritance.
The most common misconception is that if you have inherited a lot of money from your family, that you should sign a prenup. A prenup may be helpful to further define property rights between spouses in the event of a divorce, but property owned before marriage and inheritance are not always considered.
Prenup lawyer, Tammy Karas-Griggs, assists in the preparation of prenups for clients that need to create a thorough and concise agreement to define you and your loved one’s financial situation in the event of a divorce or even death before a wedding. There are many circumstances in which a couple may decide to go this route, whether it is for financial or familial reasons. Although marriage is one of the most joyful days of our lives, it’s always safe to plan. If you are looking for a prenup attorney that will keep both of your best interests in mind, contact Tammy Karas-Griggs today.