For example, some parties may own their own startup company or other type of business before they get married. A prenup can address this issue and may include language that will allow the business owner to retain their business should the couple divorce, particularly if it is possible that the business’s value will increase as time goes on. The same can be said for stock options.
In addition, a prenup can help protect each party if they have an extreme gap in income, particularly if one party decides to go back to school or leave the workforce to raise a family. A prenup can address the financial needs of both the party who left the workforce or the party that provided their partner with financial support while that partner sought an education to earn a more lucrative career.
Prenups can also address home ownership. For example, some parties come into the marriage already owning a home. A prenup could include language ensuring that the party can keep their home if they want in the event of a divorce. This can be especially useful if the home is located in a particularly desirable neighborhood singulair generic. In addition, sometimes a person inherits or already owns assets such as a vacation home or the home where they grew up. A prenup can help protect that person’s interest in those types of property as well.
In some cases, a person receives an inheritance while married. In general, inheritances are not considered to be marital property. However, if they are commingled with marital property or if marital income is used to maintain the inheritance, then the inheritance may, at least in part, be considered marital property. A prenup can address this issue and ensure that any inheritance remains separate.
These are only some reasons why a prenuptial agreement may be useful. Since this post is for informational purposes only, those who have questions about the legal aspects of prenuptial agreements or other divorce legal issues may want to seek out the advice of an attorney.