7 Things to Consider for a Prenuptial Agreement

Prenuptial agreements are a practical means of determining how finances will be handled during and potentially after a marriage. Many couples can and do benefit from such agreements, and should consider whether or not a prenup would be beneficial for their situation when approaching marriage.

Here are 7 things to consider when weighing the pros and cons of a prenuptial agreement:

1. Division of debt. Many people enter marriage with at least some debt. If your partner has accrued a considerable debt, you may want to shield yourself from their debt with a prenuptial agreement.

2. Your salary. For most people with a considerable salary, a prenuptial is necessary for determining how funds will be handled during marriage. If you have a significant salary, e.g. $100,000 or more per year, you should take this option into consideration.

3. Your assets. A prenuptial agreement may be necessary to ensure that you retain rights to your property, whether real estate or other assets, during and after the marriage.

4. Finance management. It is a good idea to establish a plan for financial responsibility within a marriage. If you so desire, you can delineate guidelines such as who will pay bills, how you will manage bank accounts, and how you will file for taxes.

5. Estate division. Whether you have children from a previous marriage or other family whose interests you would like to protect, you can write a prenup in such a way that it facilitates an appropriate division of your estate when you pass away.

6. Options for divorce. A prenuptial agreement can minimize the difficulty of a divorce by establishing in advance how property and support will be divided among the spouses. While it may not seem necessary now, this may be extremely useful down the road.

7. Your desire for a prenup. Of course, in order to form an effective agreement, you and your spouse will have to negotiate an effective arrangement together. If one of you does not want to write up a prenuptial agreement, you should discuss the matter together.

Contact our firm!

For further legal guidance regarding a prenuptial agreement (as well as postnuptial agreements), contact the Law Offices of Donald Mastrodomenico, P.C. Our Queens divorce lawyers practice exclusively in family law and have earned a widespread reputation for top-quality representation in every case. Call our firm today or contact us online to begin developing a prenuptial plan that meets your needs. Our legal team would be happy to handle your case!

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