A marriage contract isn’t the life-time commitment that it used to be. Many marriages in this day and age start out burning with a passionate fire only to sizzle out within a couple of years. When this happens, the love, care and respect that each party in the marriage feels for each other, goes away. And when this is followed by divorce (or even death), the legal ramifications can be dire for everyone involved. Because of this, prenup contracts can be drawn up between the parties to see that they are both adequately protected from each other once the union ends. And while it is tempting to ignore the contract in thinking that the love you feel for each other will never die, more than a few lives have been made more difficult by not doing it when they should have. Don’t believe me? Read on to find out why exactly you and your partner should have it done.
Protecting your Premarital Savings
Let’s say, that before you got married, you earned and managed to save yourself a considerable fortune. You may have long-term plans for these funds or might simply want to hold on to them for a rainy day or retirement. Without a prenuptial agreement, these assets could easily be fractured or lost during a divorce, even though your spouse has nothing to do with them.
Splitting Assets and Property
Assets accrued before you were married, and those that were sourced during, have one thing in common. Once you are married they become both of yours, and after enough time you will likely forget what belongs to whom. During a separation, this can cause a lot of confusion and conflict, and you might stand to lose those assets which are rightfully yours. However, by signing a prenup, you can assure yourself that this will never happen.
Protecting Children After the Divorce
A common reason why people opt for prenups is simply to keep their children protected after the separation, particularly in cases where one partner is moving on into another marriage. Individuals that want to ensure that they retain the assets necessary to support the lifestyles of their kin will need surety that it will happen in the event of a separation, and a prenuptial agreement allows for just that.
Contact Dreyer Engelbrecht Attorneys to Learn More
If you are looking or legal assistance with the drafting and signing of a prenup, or need legal assistance with family matters, contact one of our representatives at Dreyer Engelbrecht Attorneys today, or visit our website for further details on our services.