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Prenups can protect wealth in the event of a divorce

On Behalf of | May 9, 2018 | Divorce |

When many Missouri residents get married, they expect to remain married to their spouses for the rest of their lives. However, about half of all couples eventually choose to divorce. One way that individuals who are planning their wedding day can protect themselves is to sign a prenuptial agreement.

While prenuptial agreements can benefit nearly every couple on some level, it is usually affluent families who push the topic the hardest. This is often because families who have some sort of wealth want it to stay within the biological family. While many individuals may be open to the idea, there are some who decide that a prenuptial agreement is not for them. Parents can help avoid future legal battles and protect family assets by setting up trusts that include prenuptial previsions.

There are ways that parents can influence their children to be open to the idea of prenuptial agreements. Discussions regarding prenuptial agreements might begin in their late teen years or early 20s. In general, it is recommended that this discussion takes place before the child meets his or her prospective spouse. It should also be noted that when prenuptial agreement discussions do take place between the child and his or her future spouse, a full disclosure of assets will have to be made. Talking about how a prenup can protect these assets before they are disclosed to the other person helps keep the discussion positive.

Protecting assets in the event of a divorce can be extremely important, especially if a person has a variety of assets or children from a prior marriage. A family law attorney may assist with gathering all of the documentation and a list of all the assets that the person is entitled to so that a prenuptial agreement might be presented to the future spouse.

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