For couples with wealth or valuable assets, drafting a prenuptial agreement before a wedding is a common practice. The protections provided by these legal agreements can help couples avoid litigation and disputes during a high-asset divorce. However, Ohio couples of all income levels can benefit from prenuptial agreements.
Prenuptial agreements are not just for young couples. Older couples and those getting remarried can protect certain assets and the interests of children from previous marriages with prenuptial agreements. Younger couples with student loan debt and entry-level jobs can also benefit from drafting agreements, as they require both parties to disclose all financial information and examine their financial plans for the future.
Drafting a prenuptial agreement does not mean that a marriage will fail. In fact, discussing financial issues during the drafting of a prenuptial agreement can bring a couple closer together. Not every couple requires a strict prenuptial agreement because of wealth, but every couple can benefit from discussing financial history, personal debt and tax returns. In fact, the process of drafting a prenuptial agreement may help partners avoid the financial disagreements that commonly plague Ohio couples.
It is as important, and perhaps even more important, to plan for the future as it is to plan for the wedding itself. Couples of all income levels would be well-served to sit down with a knowledgeable professional in order to further discuss drafting a prenuptial agreement, or they can visit our website for more information. Taking the steps to draft a prenup will provide protection in case of a high-asset divorce or other financial issues that could arise should a marriage come an end.