Prenuptial agreements: good or bad?
Prenuptial agreements: good or bad? They are no longer just for the rich and famous, prenuptial agreements (prenups) are becoming more and more common among many brides and grooms.
The idea of a prenuptial agreement is to set a “Contract” for the marriage. If the marriage fails, both parties agree to walk away with what they had prior to marriage and to divide all earning from the marriage as set-forth in the contract.
Most prenuptial agreements are written up by attorneys, and should be presented to the bride or groom for careful consideration. If presented with a prenuptial, it is recommended you have an attorney (other than the offering parties) look over the agreement. Ask for revision of the contract to fit any of your needs and sign only when both sides agree.
A prenuptial can be reevaluated and revised every couple of years as set in the contract, or whenever both of you this it is sufficient.
Many people will find a prenuptial unnecessary. Others will find it very useful. Consideration might be given to drawing up a prenuptial if you have children from a previous marriage, are the recipient of a family trust, a large inheritance, own lots of real estate or heirlooms you would like to keep in the family should you divorce.