Is A Prenuptial Agreement Right For You?
Entering a marriage is an exciting stage in life. While you look towards your future, it is wise to prepare for the unexpected. Creating a prenuptial agreement can be a great opportunity to discuss your current and future financial situation with your soon-to-be spouse.
If you have questions about creating a prenuptial agreement, and whether it is right for you, our firm can help. Rebecca W. Geyer & Associates P.C. has helped new families with prenuptial agreements and estate planning throughout central Indiana since 1999.
Benefits And Limitations Of A Prenup
Each couple is unique and has different goals. Your prenuptial agreement will be tailored to your situation. Some benefits to creating a prenup include:
- Protecting each spouse’s separate property
- Determining what assets are community property versus marital property
- Documenting any special arrangements between spouses
- Assigning debt (credit cards, student loans) to the appropriate spouse
- Saving time and money in the event of divorce
However, there are limitations to what terms can be included in a premarital agreement. Prenups cannot include the following:
- Child support, custody or visitation decisions
- Personal stipulations, such as mandating that a spouse complete all household chores
- Terms that encourage divorce or dissolution of the marriage
- Terms that overly favor one spouse over the other
- Illegal activities
If this is your second marriage, you may be more open to the idea of a prenup. Protecting your children’s inheritance from a prior marriage is a valid concern. You may have significant assets and retirement funds. As you age you will naturally have more assets to protect. We can help you create a prenup that offers your family the greatest benefits and helps you plan for the future.
Call Today For Trusted Legal Advice
If you would like to discuss your options, you need an attorney who will understand your needs. Our firm will help you make the best decision for you and your spouse. Call our Carmel office today at 317-973-0237 or fill out our contact form.