Basics of the PreNuptial Agreement

A prenuptial agreement is an advantageous document to draft if you have many assets, a business, or children from a previous marriage. It serves to protect the inheritance of children and to protect what was yours prior to the marriage. It can also protect you as a couple from outside parties, such as ex-spouses.

If you are interested in drawing up a pre-nup or would like to know if you need one, your best option is to speak to an attorney. There are differences in each state with regards to the way property is held and how it is divided upon death or divorce, so be sure to consult with attorneys in your state who are familiar with these state laws. Technically, any attorney is qualified to speak with you on this matter, but you may want someone who is in family practice and has experience with pre-nups. Usually, an initial consultation is free of charge.

Upon consultation, if you decide to write a pre-nup, your spouse should also have his own lawyer to protect his own interests, as this will be a contract between you and your spouse. In reality, an attorney is not necessary for a pre-nup to be legal. However, there may be certain steps in your state that are necessary to make it a legal document that you may not be aware of. In addition, you may not know what to include or how to phrase it so that it will be upheld by a court in the event you need it, without either doing a whole lot of research yourself or having a lawyer consult with you and draw it up.

The pre-nup can be drawn up and signed as close as a day before the wedding, but it must be completed before the wedding. After the marriage, your state's laws come into effect regarding distribution of assets.

Though nobody ever thinks their marriage will end, some do. The pre-nup can protect you in case something was to happen to your spouse.