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Knowing when you need a prenuptial agreement

On Behalf of | Mar 13, 2024 | Family Law

An engagement is an exciting time for any Indiana couple. While you’re looking forward to your marriage and a happy life together, no doubt, you and your soon-to-be spouse have plans for the future. However, one thing that could be awkward is bringing up the idea of a prenuptial agreement. These are the most common reasons why you might want one.

You own a business

One of the biggest reasons to need a prenuptial agreement is that you own a business. It can keep it and everything you’ve achieved safe so that you won’t have to give your spouse a portion of its value if you divorce.

You have a large inheritance

If you received a large inheritance, you might want to keep it solely for yourself. A prenuptial agreement ensures it remains untouchable. Without this legal document, if you end up in divorce, your inheritance would be divided. Even if you were allowed to keep it, you might have to split the value of it with your spouse.

Protect yourself from debt

Divorcing spouses are often responsible for sharing debt, but this can be burdensome. A prenuptial agreement can protect you from having to pay any portion of the debt your spouse racked up during your marriage. It can be a lifesaver especially if they have a significant spending habit or gambling problem.

You have children

Prenuptial agreements also benefit your children and ensure you can leave them an inheritance. If you have kids from a previous relationship, the document prevents your spouse from getting their hands on any assets you plan to leave them if you get a divorce.

Prenuptial agreements are more common than you might think. They can protect you and your family if your marriage doesn’t work out.