Wedding preparations usually center around things like the venue, guest list and flowers. While creating a memorable wedding is certainly worthwhile, the process of planning for one day often overshadows planning for the future. Here are a few reasons why creating a prenuptial agreement deserves to be at the top of one’s planning list.
Whether someone is bringing significant financial assets to a marriage or otherwise very little, protecting what one has is always important. This is partly because in Alabama, divorce can end up costing more than expected, especially when an ex makes things like mediation and negotiation difficult. Addressing things like property division in a prenuptial agreement creates a streamlined process that can ease some of the financial and emotional burden commonly associated with divorce.
Saying “I do” for the second time is another good reason to consider a prenup, and someone in this position may even be more open to the idea. After going through divorce once, it is easier to understand how it can happen again. Taking the extra time to lay out one’s expectations and negotiated terms for divorce will likely seem like a worthwhile effort the second time around.
Creating a prenuptial agreement is also essential for those who have children. A prenup can protect a child’s rights to inherit assets from before the marriage should his or her parent pass away. Without specific language protecting those rights, a surviving spouse — the child’s stepparent — can potentially claim those assets.
Business owners, those who are expecting large inheritances and people who simply know what they want from the future can all stand to benefit from a carefully worded prenuptial agreement. However, creating an effective and enforceable prenup is not always as easy as it may seem. This is why couples may want to seek out guidance from an attorney who is experienced in this aspect of Alabama law.