The Harding Law Firm News

Pre-Marital Agreements

Harding Law Firm - Tuesday, July 05, 2016

Some may think that pre-marital agreements (or “prenups”, as they’re often called) only lead to divorce. In fact, pre-marital agreements can aid a couple in many areas throughout their marriage. This is why many find it comforting to know they have settled important financial and property matters beforehand.

There are many reasons to consider a pre-marital agreement. They can:

  • Protect each spouse from the other’s debts, also protecting their joint assets should a creditor ever get involved.
  • Ensure that children from previous marriages will inherit the property left to them.
  • Specify what happens to all property in the case of death. This is especially helpful if one party has possession of a family heirloom that they would like kept in their birth family.
  • Specify management of household expenses and bills, joint bank accounts, credit card spending and payments, contribution to savings accounts, college bills, etc.

In the case of a divorce, this agreement is helpful and can save a lot of headaches, arguments, and money. However, what some don’t realize is that pre-marital agreements can also lead to a smoother marriage, as it encourages a couple to discuss financial responsibilities that may otherwise be overlooked and cause tension and disagreements during the marriage.

Have questions? Contact Harding Law today for your FREE consultation!