Weddings are often a beautiful expression of the Missouri couple’s love for each other. In many cases, this is not the individual’s first experience with this emotion, and there may be children from previous relationships being brought into the marriage. When this happens, it is important that the parent plans for his or her child’s future and considers what could happen over time. A prenuptial agreement is one way in which a parent can do this.
When the couple gets married, many of their assets become commingled. The family usually lives together in one house, and each parent’s income is often used to pay family bills. In many instances, each individual brings assets into the marriage. Depending upon their circumstances, each individual may already own a home and may have accumulated significant financial assets and mementos.
If the couple divorces, assets accumulated prior to the marriage are usually not included in the property settlement. However, what happens if one of the individuals dies? The individual may want to make sure that certain assets brought into the marriage go to the child. Additionally, he or she may want to address assets accumulated during the marriage, educational expenses and more.
Many Missouri residents assume that a prenuptial agreement is only in case the marriage does not work out and the couple decides to divorce. This is only one possible scenario; one spouse will most likely outlive the other. In addition, the prenuptial provides an excellent opportunity to discuss financial philosophies and current financial status.