When you are getting married, it is likely that you expect the marriage to last a lifetime and chances are slim that you want to plan ahead for a divorce. For this reason, many couples opt to not draft a prenuptial agreement1 (also known as a premarital agreement or “prenup”). While a prenuptial agreement is not necessary in every case, there are certain situations in which it is best to protect yourself with this type of an agreement.
A prenuptial agreement can set out guidelines for what will happen in the event that you and/or your spouse wishes to dissolve the marriage.2 The following are certain instances in which you want to discuss a prenuptial agreement with an attorney:
- You have substantially more wealth or significantly greater earning power than your future spouse.
- Your future spouse has substantially more wealth or significantly greater earning power than you.
- This is your second marriage and your have children or property from your previous marriage.
- Your future spouse has a large amount of debt.
- You are the owner or part-owner of a business.
- You have a specific estate plan involving beneficiaries other than your future spouse.
- You plan to stop working after marriage in order to dedicate your full time to raising your family.
If any of the above apply to you, it is important that you look into drafting a prenuptial agreement to protect your interests in the future. A prenuptial agreement is not anti-marriage, but is simply legally practical in many situations. A prenup can also help assure you that you and your spouse are getting married for the right reasons and there are no ulterior financial motives. Prenuptial agreements can be complicated, however, so you should always seek the help of an experienced attorney.
Contact an experienced Seattle and Tacoma family law lawyer for assistance
If you are engaged and have any questions regarding prenuptial agreements or any other type of family law matter, please do not hesitate to contact the Dickson Legal Group to discuss your situation. We offer consultations, so please call us in Seattle at (206) 621-1110 or in Tacoma at (253) 572-1000 today.