Do you think it's unromantic to talk about divorce, even before you tie the knot? Some Louisiana residents would say so. However, many people whose marriages ended in court years beyond their wedding day celebrations were thankful they had signed prenuptial agreements when the time came to divorce. How do you know if signing a premarital contract is right for you?
There are several things to consider when determining how best to protect your assets and plan for the unexpected as you enter married life. One important consideration is whether you wish to maintain separate ownership of any financial property, business interests or other personal assets during your marriage.
A prenuptial agreement might help
If you own a business and your intended spouse does not intend to be involved in any way, nor to own any portion of the business after your married, it may be best to put such information in writing before your wedding day. Below, is a list of other potential benefits prenuptial agreements can provide:
- In addition to maintaining separate ownership of a particular asset, you can also assign specific debt liability to one or the other intended spouse regarding college loans, credit card debt or other financial liabilities.
- Having everything in writing ahead of time can save time and money if a problem later arises and you wind up in court.
- Louisiana happens to be one of only nine community property states in the nation. This means the court considers any marital property not listed as separately owned as community property in a divorce.
- A prenuptial agreement can be included as a valuable tool as part of your estate plan.
- Even if you are not parents when you marry, you and your future spouse may wish to include instructions and stipulations regarding parenting, child custody and other related matters in a premarital contract to avoid complications and prevent contentious debates if divorce occurs.
Just because you want to show in writing that you and your future spouse are on the same page regarding certain important financial matters and other issues, doesn't mean you expect your relationship to fail or that you are being unromantic. In fact, many Louisiana residents and others say their prenuptial agreements allowed them to focus more on joyful wedding preparations and future goals as couples, and actually helped strengthen their marital bonds and alleviate financial worries. Many people seek experienced guidance as they navigate the prenuptial contract process.
By asking a knowledgeable individual to review your prenuptial contract, you can iron out wrinkles and make doubly sure you understand all legal ramifications associated with your intended agreement. An experienced family law attorney can address all matters related to prenuptial and post-nuptial contracts.