Prenuptial agreements tend to be touchy subjects for couples, especially when large amounts of money or property are involved. A prenuptial agreement coupled with proper estate planning protects a person’s hard earned assets from the other by acknowledging the property accumulated before the marriage to be separate.
Because divorce settlements and post-mortem proceedings in North Carolina don’t necessarily take into account each person’s separately earned assets, people can sometimes lose a lot of what they earned on their own before the marriage even occurred. We have seen many times where the children of one partner are effectively disinherited through poor planning on the part of a couple who in no way intended that outcome.
No one going into a marriage wants to predict the marriage’s failure, but it is necessary to plan ahead in the event that premature death or other unpredictable situations occur, especially if one or both partners have a significant amount of financial assets and each have their own children before going into the marriage.
We have seen many benefits come from prenuptial agreements, including:
- Trust is enhanced between the couple because potential areas of conflict are brought out in the open and resolved.
- Children from any previous marriages will be financially protected.
- A prenuptial agreement can help spark conversations about financial management and lifestyle issues before the marriage leading to important communication between the new couple.
- If a divorce does occur, a prenuptial agreement can make it easier to divide the marital property, leading to a quicker and cleaner divorce.
Our unique collaborative approach is both cost-effective and provides an ideal setting for the discussion and resolution of potential future conflicts. See our FAQs or call us for more information.