A prenuptial agreement isn’t a very fun topic to discuss with your partner, but it is a smart move financially. A prenuptial agreement is a contract that lays out how assets will be divided in the event of a divorce.
You don’t have to be reach to have a prenuptial agreement. A person who has a smaller nest egg may want to protect it more than a person who has millions. You may want a prenuptial agreement if you fall into any of the following categories:
- You have or are pursuing a license in a lucrative profession
- You have loved ones who need to be taken care of
- One of you will be supporting the other through college
- One of you is much wealthier than the other
- You have children or grandchildren from a previous marriage
- You may be receiving an inheritance
- You own part or all of a business
- You have assets such as a home, stock, or retirement funds
A prenuptial agreement can be very beneficial if a divorce were to occur. To learn more about prenuptial agreements, contact a JacksonWhite family law attorney. To schedule a consultation with family law attorney Timothy Durkin, call (480) 779-7972.