Despite the ideals one has when entering into a marriage , we all know that unfortunately many marriages end in divorce. With this in mind, it is sound planning to consider a Prenuptial ( ie. Pre marriage) Agreement. A prenuptial agreement is made with the goal of outlining assets each party is bring into the marriage and discussing what will happen to these assets in the event of a divorce.
There are many advantages to a prenuptial agreement, including protecting premarital assets, avoiding future litigation expenses and protecting rights and interests of existing children.
To be valid, a prenuptial agreement must be in writing, signed by each party. It is recommended that each party review the agreement with his or her independent legal counsel. Full financial disclosure and fairness are crucial to the prenuptial agreements validity.
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