While the ideal marriage lasts a lifetime, life is turbulent, and you and your partner may be going your own separate ways. However, the life that you have built together has yet to be settled, leaving a lot of assets in a messy and unusual situation that could take months to properly resolve. Whether you want to avoid the potential cost or emotional damage that a messy divorce brings, a prenuptial agreement may take your mind off of the worst-case scenarios.
Prenuptial agreements are a form of contract that splits the assets that you want to divide as a couple in the case of a divorce. While this is important, many couples choose to forgo it, and they may regret it at a later date. These pre-split assets such as the house, the savings and even the family dog prevent messy court battles filled with claims that could end up swinging either way. If you’re wondering if a prenuptial is right for you, Dan Burke Attorney at Law is here to help you understand what benefits to consider:
Property & Assets
Whenever a lot of couples finally decide to tie the knot, they begin to share assets. This can become difficult to manage once the marriage is over if the property is shared between both of the parties. You can protect your assets in a lot of ways, such as by not combining accounts, but a lack of a prenuptial could mean your spouse is entitled to some of your assets.
The same can be said for marital property. Real estate is the most popular example of this, and fights over how to divide properties can span months or even years. By stating directly who is entitled to different properties, you can protect your own property rights.
Debt & Inheritance
One of the worst parts about a messy divorce is unwillingly having to fulfill different projects that your partner decided to start. This can become very troublesome if that person has a lot of debt, and without an agreement in advance, both parties can be held liable. By making sure to include a clause that explains that you are not responsible for any debt they accumulate during your relationship, you can save a lot of financial heartache in the future.
Inheritance can also be very complicated during a divorce proceeding. If you want specific assets of yours to be passed down to your children, you need to specify that within the prenuptial agreement. This is because this designation will ensure that the court knows your spouse is not entitled to these particular assets post-divorce, meaning you won’t be forced to liquidate businesses or other assets.
Wondering More About A Prenup?
Finding a lawyer with your best interest in mind can be frustrating. Luckily, Dan Burke is a San Antonio attorney with the expertise to help you thrive post-divorce. Specializing in small business, probate and real estate law, we can help protect your assets and advocate for you. Schedule your free consultation today, and with flat rates that won’t sneak up for you, you won’t regret it!