The Basics of Prenuptial Agreements

May 8, 2008 – 11:03 am
by Cristi Trusler

A prenuptial agreement is no longer just for the wealthy. Today, folks of all economic backgrounds and in all situations are deciding to legally clarify their rights and responsibilities before they get married. It can also clarify in advance how property and assets will be divided should the couple decide to divorce.

If you don’t already know, a prenup is a written agreement that a couple signs before they get married. If the marriage ends in divorce or death, the prenup states what each person’s property rights will be after the marriage ends. It usually lists the debts and assets of both parties.

People in numerous situations are beginning to see the positive benefits of a prenuptial agreement. It’s no longer limited to the wealthy.

Prenups give rights of the assets to the children of the couple as well. If a spouse dies, the children of the deceased spouse will have the rights to the assets and properties. It will also prevent the surviving spouse from taking control of all the assets.

A prenup clearly states the financial rights of each party during the marriage. Consider the situation where one spouse has significant debt. If a spouse is has debts before marriage, the other spouse will not be responsible for those debts.

If a couple divorces, a prenuptial agreement can help reduce the stress and allow them to separate more amicably. A prenuptial agreement can address whether or not the spouse will receive alimony or spousal support. However, a spouse cannot give up their rights to alimony in a few states.

If a couple signs prenup agreement it does not mean they are not strongly committed to each other. Neither it means they do not trust each other. On the other hand, it may mean just the opposite. It may help you to build a stronger marriage as it clearly states what is expected of each one.

About the Author:
AustinDivorceHelp.com is one of the premier desitinations for people that need a Austin Divorce Lawyer. If you need free information, you can watch a seminar about divorce in Austin 24 hours a day.

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