Those who are considering divorce usually try their best to prepare themselves for the battles that may await them. While some couples are able to amicably dissolve their marriages, there are usually sticking points that can turn a calm divorce settlement negotiation into a heated dispute that threatens litigation. This can leave an individual vulnerable to an unfavorable outcome that can have long-term implications.
Yet, there is a way to protect your interests without ever having to have an argument over some of the most disputed divorce legal issues. This can be done by entering into a prenuptial or post-nuptial agreement. These agreements are essentially a contract between you and your soon-to-be spouse that spell out how legal issues will be settled in the event of divorce.
So, for example, a prenuptial agreement can specify how debt will be handled in the event of divorce. Will already existing debt be subjected to equitable division amongst the parties? Or will the original holder retain it? What about newly incurred debts? These questions can be answered through a prenuptial or postnuptial agreement. Also, one of these agreements can define how financial matters will be handled during the course of a marriage, as well as how property will be divided in the event of divorce. When done correctly, these documents can allow a couple to avoid confusion and argument in the event that their marriage dissolves.
Discussing the possibility of a prenuptial or postnuptial with your loved one can be challenging, though, as many see this as planning for failure. Instead, the process should be viewed as one whereby expectations are laid out and all the parties are protected. This, in turn, can allow a couple to focus on its relationship without fear of how things will play out should the relationship come to an end. While prenuptial and postnuptial agreements can be enormously beneficial, there are certain things that they can’t address. To learn more about these matters and how to protect yourself in the event of divorce, consider speaking to a qualified family law attorney.