The Basics of Prenuptial Agreements
When planning your wedding and preparing for a new life with your soon-to-be spouse, there is a lot to consider. From selecting a date to choosing your first dance song to getting a marriage license, there is a whole list of things you must do. One thing you may want to add to your to-do list that you may not have considered is speaking with a family law attorney about drafting a prenuptial agreement.
A prenuptial agreement, or “prenup” for short, is a legally binding contract a couple signs before getting married that specifies the splitting of assets and debts in the event of a divorce. While prenups are viewed by many as a negative, they offer many benefits. Finances are a leading cause of stress in many marriages. A carefully planned pre-marital agreement can help you avoid conflict by helping you prepare for the unexpected. A prenup also allows you and your spouse define your financial agreement instead of the state, and it can take the pressure off your marriage so you can focus on enjoying your life together.
More Millennials are Signing Prenups Before Marriage
According to the American Academy of Matrimonial Lawyers, today more millennials are signing prenups before marriage. Outstanding student loan debt and having more assets to protect due to delaying marriage are two main factors driving the increase in the number of millennials seeking prenuptial agreements.
To help you better understand prenuptial agreements and how they work as well as reasons couples should consider getting one, the Philadelphia divorce lawyers at Freedman & Lorry, P.C. offer this infographic.
If you and your significant other are considering a prenuptial agreement, it’s in your best interest to consult with a Philadelphia divorce lawyer. At Freedman & Lorry, P.C. our attorneys have the knowledge and experience to prepare a prenuptial agreement that has your best interest in mind. Call 888-999-1962 today to schedule a free consultation or contact us online.