Meeting and falling in love with someone is a priority for many. Another item high on the list of priorities is personal success. Whether it is through rising up the ranks by climbing the corporate ladder, or building a business from the ground up, achieving a measure of personal success is something virtually everyone tries to accomplish in their lives. How these two personal life goals intersect with each other can vary greatly throughout the course of one’s life, from smooth sailing to a stormy mess. How can someone protect themselves from a negative outcome at the intersection of these two worlds? Prenuptial agreements.
Prenuptial agreements are designed to purposefully assign ownership rights of the respective assets of two people who are considering marriage, in an effort to protect these assets should the marriage end in divorce. While we all may wish for Cupid’s arrow to find us a soul mate, he sometimes misses the mark. No one wants to see their life’s work divvied up with someone we can no longer stand being married to. From property to life insurance, and even retirement plans, prenuptial agreements set the expectations for life after divorce.
While prenuptial agreements are usually pretty solid, they are not necessarily airtight guarantees at maintaining business as usual should a marriage fail. Circumstances that can lead to challenges to the validity of a prenuptial agreement can range from the extenuating circumstances of the pending divorce to one spouse simply not signing the agreement when it was drafted. It is essential that a prenuptial agreement is planned out and prepared by the appropriate professional.
It is essential to discuss your personal situation with your attorney before deciding to get married. This simple step will go a long way in helping you determine whether or not entering into a prenuptial agreement is right for you. In addition, always discuss any prenuptial agreement with an attorney BEFORE signing anything given to you by your partner.