You and your prospective spouse may believe that you will stay together forever, but you know that nothing is promised. Because of this, you want to make sure all your I’s are dotted and T’s crossed. One of the proactive actions that you take on is meeting with an Indiana family law attorney to discuss a prenuptial agreement. A prenuptial agreement is a private contract that you have with your partner. It will detail all of each party’s properties as well as the rights of each partner to those properties in the event that the marriage comes to an end.
Despite the stigma that surrounds prenuptial agreements, these agreements are important to a spouse’s personal as well as a couple’s financial plans. An Indiana prenuptial agreement also plays a pivotal role in figuring out how your property is dispersed at the time of your death. This is particularly important for individuals who have children from multiple marriages. To avoid having only one set of children receive part of your estate while all others receive nothing, a prenuptial agreement can address this situation.
What are the Benefits of Prenuptial Agreements?
In addition to clarifying your wishes after you die with regards to your estate and protecting your wealth in the event of a broken marriage, prenuptial agreements do much more.
Regardless of if a couple has children or not, a prenup will detail the financial rights as well as the financial responsibilities of each partner.
Protection of Premarital Assets
Any property that came into marriage by one party and was obtained before the union took place can be clarified as a property that exclusively belongs to that party. Likewise, any property that a couple amasses together during the term of a marriage can be divided between parties.
Help Avoid Future Disputes
While there are some divorce situations that are completely amicable, many are not. When a divorce situation does not go smoothly, a prenup can outline all of the ways that finances and property can be divided so there is no question as to what happens after the dissolution of a marriage. This may help you avoid unpleasant and vicious disagreements.
Protection from Taking on Debt
An Indiana prenup will protect parties from their partner’s debts that they had no part in accruing.
Speak with an Indiana Family Law Attorney Today
Prenuptial agreements in Indiana do a lot of good things for both parties. They can prevent a contentious divorce and they can protect both parties’ financial futures should their union come to an end. They can ensure that a person’s wishes when they pass on are respected and they can save spouses from being liable to pay the other’s debts.
Christopher L. Arrington is an Indiana family law attorney who can help you with any type of family law issue you have. If you want to learn more about how a prenuptial agreement can benefit your future union with your spouse, do not delay in contacting Christopher L. Arrington, an experienced and resourceful Danville family law attorney at (317) 745-4494 to schedule your free consultation today.