A prenup is a premarital agreement. It can be crucial if things go bad in your marriage.
It can protect assets, such as your premarital retirement or education fund, your property, and your children’s property interests from other relationships.
Under the circumstances of a failed marriage, it helps you divide your assets and debts. It has to be signed by both parties and only takes effect after marriage.
You can customize your prenup agreements; however, it needs to be legally sound. Find out why you need a divorce lawyer to write a quality prenup.
1. Divorce Lawyers Know Divorce Best
Divorce law is different from other forms of law. There is a lot to consider while writing your prenup. Courts scrutinize every angle of your prenup before making their decision.
Who knows these laws better than a divorce lawyer? Your partner and you both should have separate lawyers. In case of a breakup, you should both have your own lawyers backing you up to avoid a conflict of interest.
A divorce lawyer will be able to give you a well-written prenup that includes all the clauses you and your partner decide to put in. It is important to know all the laws before writing a prenup.
They will be able to advise you on any form of information you need before your prenup agreements.
2. They Can Help in Clarifying Debt Responsibility
One of the major causes of divorce is debt. Sometimes there is a significant gap between the debt of each partner, which causes issues. Your divorce lawyer can help protect you from it in the event of a divorce.
Your prenup can also convey your accountability for individually incurred debts. A prenuptial agreement, for example, could lay down the term that you and your spouse would be individually responsible for the car loans or credit card debt that you each have accumulated prior to getting married – or perhaps how much of the cost you will bear during the marriage, even if the payments are for family expenses.
This is especially important if your partner is considerably more in debt than you.
You might not consider this during the wedding preparations because you trust your partner. However, a divorce lawyer can advise you on the legal matters which become prominent after a divorce.
3. They Can Ensure a Fair Agreement
The point of having a premarital agreement between the spouses is to have a fair division of assets and liabilities after a divorce. However, that is not always the case.
Your prenuptial agreement can have unfair terms to you or your partner. Assessing the document’s complexities can be difficult, resulting in crucial details being overlooked.
Furthermore, premarital contracts can be invalidated due to fraud. People often understate their assets to keep them out of the agreement. You will be unaware if your spouse chooses to do that behind your back.
Divorce lawyers can mitigate these concerns. As an extra benefit, if both parties have individual attorneys, they cannot feign misunderstanding the terms and conditions of your agreement after the divorce.
4. They Can Protect Your Children’s Rights
Your biological or adopted children from the current marriage will have an inheritance from both of the parent’s assets. If you are someone with a child from a previous relationship, you will suffer a financial loss without a prenup in the event of divorce.
Your divorce attorney can draft a prenuptial agreement that includes provisions for your child’s financial support, education cost, parenting time, and other related issues.
They can also specify potential inheritances you want your previous relationship’s children to receive after the divorce. This way, they will not be exempted from receiving a part of your assets.
Divorce lawyers also come in handy when you want your stepchild, who might be close to you, to become the successor of your business.
It is not advisable to go through a divorce without a lawyer or while writing your prenup when children are involved.
5. They Can Make Your Prenup Agreement Valid in Court
When your divorce is brought to trial, the courts will closely examine your prenup, which is why having two independent divorce lawyers is critical. Having a lawyer to defend you in court can validate your side of the argument.
In some states, both parties must seek individual legal counsel, without which your agreement is null and void. Accidental errors in your premarital contract can also make it invalid.
This increases the value of a skilled divorce attorney.
Although there is no legal requirement to hire one, having the assistance of an experienced professional to draft your prenup can help you make the right decisions from the start.
6. They Can Help You Set Financial Parameters
The monetary battle during a divorce can be messy. There are financial issues you should analyze before filing for a divorce. Your divorce lawyer can help you set up those parameters in your prenup.
Your prenup can cover everything from saving goals to investment decisions. Spending limits that are not mandatory can be imposed.
A premarital agreement can serve as a guideline for you and your spouse to coordinate smart financial planning to benefit your relationship.
You can settle the financial matters in your prenup with your divorce lawyer’s advice.
7. They Can Help Establish Dispute Guidelines
Thinking about the grounds of a dispute before getting into the wedding vows with your spouse is wise. You are obviously the happiest during your wedding, but discourse will arise once the wedding bells have dimmed.
It is healthy to have small fights throughout your marriage. However, if you are a couple that gets into violent altercations, it is best to seek help from your divorce lawyer and establish disagreement guidelines in your prenup.
It can prevent hostility and resentment in the relationship and even stop the divorce.
8. They Can Help Protect Your Business
You might have owned a business even before the thought of marriage had occurred to you. A lot of hard work and passion goes into establishing a business.
Your pre-owned business will remain under your name even after the wedding. However, that can be diminished if your spouse has either spent time or has significant financial contributions to the business.
You can set the framework of your business ownership and operations in your prenup with the help of your divorce lawyer.
Divorce lawyers can write you a well-organized prenup to avoid a messy divorce. They know divorce laws the best and can clarify debt responsibility and financial parameters.
Your lawyer can protect your children’s rights to your assets, especially if they are born in a previous marriage. They can help to write a fair prenup that can be validated in the eyes of the law.
With their help, you can protect your individual business and settle disputes during the marriage.