Prenuptial agreements have had a bad reputation over the years, but the truth is that they are a smart choice for many Louisiana residents who are getting married.
Ultimately, prenups are not intended to prepare for a divorce, they are intended to offer both parties protection in case a divorce should occur.
Protecting your assets
These legal documents are primarily used to identify which property should be considered separate and which property should be considered marital. This is especially important today as the average marriage age is much higher than it used to be.
Many people now enter marriage with retirement accounts, businesses, vehicles or even homes of their own. If they want to make sure that these assets remain theirs, then a prenup is a great choice.
Protecting your children
Prenups are also a good way to protect children from previous relationships when entering a new marriage. Because a person’s estate automatically transfers to the surviving spouse, children from previous relationships can be unintentionally bypassed without a prenup in place.
Entering a prenup after marriage
Prenuptial agreements are most often entered before a marriage (with each party having enough time to review the contract with a separate lawyer prior to the wedding date). However, these agreements can also be entered after the marriage, at which point they are called postnuptial agreements.
Working with a lawyer
It’s extremely important that couples who are interested in entering a preup or postnup have the document drafted by an experienced family law attorney so that the contract holds water in court. As with any legal contract, there are certain standards that must be met.
For assistance with prenuptial and postnuptial agreements in the Baton Rouge area, contact the Rowe & Manning Law Firm LLC toll free at 800-724-1992.