A prenup is a great way to ensure you won’t go broke after a divorce, but bringing up the idea to your partner can be awkward. So what exactly is a prenup, and should you have one?
A prenuptial or pre-marital agreement is a property agreement. When a couple gets married, their wages and income from separate property they had before the marriage becomes community property. A prenup can change that.
Young couples rarely sign prenups, but people who are remarrying and have accumulated some wealth may want to consider an agreement.
Assets like income generating rental properties or large sums in investments may be good reasons to look into signing a prenup.
If you are considering a prenup, know that both parties should be represented by counsel and seek advice before entering an agreement because most benefit one party over the other.
A prenup can lead to a lot less drama during the divorce proceedings if done correctly and properly.
If you’re interested in signing a prenuptial agreement with your partner or would like more information, you can contact the McClesky Law Firm at (806) 796-7300, or check out their website at mhbg.com.