Prenuptial agreements, or ‘prenups’, frequently get a bad rap. You notice your friends and family flinch when you tell them you and your partner are going to enter into a prenup before getting married. While prenups can be a touchy subject, and are too often deemed a sign of distrust, they should be seen as a valuable financial planning tool to protect you in the future.
A premarital agreement is a contract entered into by future spouses that identifies assets and debts and addresses the rights and obligations of each spouse as it pertains to those items in the case the marriage ends in divorce. In simpler terms, the prenup manages the division of assets at divorce. Prenups are often used by wealthy couples, but they are also beneficial for protecting future earnings and future wealth. Ultimately, the agreement is designed to keep the divorce process less expensive and less contentious for the couple.
Everyone’s financial and family situations are different when they come together as a couple. During the exciting time of dating and marriage, the thought of divorce may not be on your mind, but the reality is that nearly 40% of marriages in the U.S. end in divorce, and sorting through assets in the heat of a divorce can be overwhelming.
W. Woods Doster and his family lawyers have practiced law solely in North Carolina, and are trusted and respected in the Pittsboro and Sanford areas. Mr. Doster’s knowledge in legal matters is built on over 35 years of experience in local and state law.
When you are educated about prenups, you are better poised to create a prenup contract that works best for you and your spouse.
Now that you know the facts, it is time to assess whether a prenup is right for you. Not every couple needs or wants a prenup, but if you are concerned about your financial future, you should discuss your options. Sit down with your partner and talk through different scenarios that could have a significant impact on your financial future. Some questions to consider include:
Any other concerns should be fleshed out, and any sticking points should be considered as terms for the prenuptial agreement. If discussions become contentious, remember that ensuring all financial issues are addressed prior to a lifelong commitment can actually strengthen the bond by revealing the full financial picture before it becomes a serious issue.
The best way to understand North Carolina’s prenup laws is to speak to a North Carolina prenup attorney. In nearly 35 years of legal practice, W. Woods Doster has helped many couples develop prenuptial agreements that meet both individual’s needs. Ease your anxiety by protecting your future.
The attorneys at the Law Offices of W. Woods Doster, P.A. have experience with prenuptial agreements and all types of family law matters. During your consultation we will identify some options and help you understand how we can protect your rights. Call us today at (919) 842-5007 or contact us through our website.
Trust. Experience. Respect. You can count on the Law Offices of W. Woods Doster, P.A. for helping you meet the legal requirements of prenups. We serve residents of Sanford and Pittsboro and throughout Lee, Chatham, Harnett, and Moore counties.