At McFarland Ritter, we understand that planning for your future together involves more than just picking out a venue and sending invitations. While it may not be the most romantic topic, discussing what to include in a prenuptial agreement, or “prenup”, can be an important part of the foundation of your new marriage.
We are committed to providing essential legal services to families in our Boise community, and that includes helping couples navigate the process of creating a fair and comprehensive prenuptial agreement before their wedding. We do this while adhering to our values of clear communication, professional honesty, and integrity.
First of all, what exactly is a prenuptial agreement? Also known as a “prenup,” a prenuptial agreement is a legal contract entered into by a couple before marriage. This agreement outlines how assets and debts will be divided if the couple gets divorced, or if there is a death of one of the spouses.
While some may say that getting a prenup doesn’t show commitment to marriage, consider the following reasons why getting this important contract is beneficial and why it has no bearing on your commitment.
It is not just for what would happen if you were to divorce, but also if there is a death, and even what will happen financially while you are married.
● Protecting individual assets gained before the marriage: If this is your second marriage or you have significant assets coming into the marriage, it is important to protect what you earned before the marriage, and discuss how those assets will be used while you are married as well as in the event of a divorce or death.
● Clarifying financial expectations during the marriage: It is important to make sure you are both on the same page financially. Talking about finances can be difficult, and we will help you navigate the conversations so you each have the same understanding of your financial obligations and expectations coming into the marriage. ● Establishing spousal support in the event of a divorce or death: This can be hard to talk about because you don’t want to go into a marriage thinking about a divorce or death. However, sometimes life situations happen and it is important to have a fair plan in place.
● Preserving family property or business interests: If one or both of you have a business before your marriage or inherited family property/assets, it is important to have the same expectations on what will happen to those entities when you are married. Providing for children from previous relationships: A prenup agreement is especially important when you have children involved. A prenuptial agreement will ensure they are taken care of no matter what happens.
● Establishing what happens to individual debt: It is important to ensure that debt brought into the marriage will remain each partner’s separate responsibility.
At McFarland Ritter, we understand that every relationship and every couple’s situation is unique. We take the time to listen to your concerns and goals and work with you to craft a prenuptial agreement that meets your specific needs in a calm and collaborative environment. Talking about money can be stressful for couples. We will help you navigate this conversation with ease.
We believe that creating a prenuptial agreement should be a collaborative process, not a contentious one. Our team of experienced attorneys will guide you through the process with compassion and expertise, ensuring that both partners feel heard and respected. We will explain the legal terms and the contract in clear language, so you both understand what you are signing and can both make informed decisions about your future.
When you need a prenup agreement lawyer, consider the McFarland Ritter law firm. We are passionate about helping families in our community plan for their future with confidence. If you have asked yourself, “Do I need a prenuptial agreement?” contact to schedule a consultation.