Why you should consider a prenuptial agreement
Unfortunately, couples are often hesitant to consider or enter into a prenuptial agreement. While that hesitation is understandable, in certain cases it is necessary to protect yourself, your children and sometimes other family members from financial devastation were the marriage to fail.
Couples with children from prior relationships should protect their heirs before entering into new marriage. Even if they remain financially disentangled, the marriage status itself can be problematic and have serious financial implications. Likewise, a person who possess substantial assets prior to the marriage, whether it is from inheritance or business success, should seriously consider a prenuptial agreement.
In some instances, reconsideration or financial changes occurring after the marriage can necessitate a postnuptial agreement. While not necessarily sanctioned by law as with prenuptial agreements, they remain substantially effective in protecting parties who are already married but want to protect themselves in the event the marriage ends.
The cost of such agreements is far outweighed by the savings and lack of financial devastation were the marriage to end.
