Michigan couples that have experienced or are experiencing a divorce understand the challenges and pain involved in the end of a marriage. No matter how prepared one may expect they can be, there is no true way to know all of the hurdles that could arise. Property division alone, for example, can raise dramatic issues unforeseen to that point.
The current divorce of Bruce and Kim Jenner has the topic of prenuptial agreements rising around the nation. While in the past, such agreements were considered only necessary for a high-profile couple or for the very wealthy. However, a recent article in the media contests that a prenuptial agreement can benefit most any married couple.
One factor to consider is the high number of people marrying later in life, when they have amassed a greater amount of assets than those people who marry at younger ages. This may include business assets, a 401(k), real estate and more. Additionally, remarriages that involve children from prior marriages also make premarital agreements valuable. The article also points out that an agreement prior to a marriage that delineates separate and marital property and its division can be helpful not only in the face of an unfortunate divorce but when one spouse dies before the other.
If you are considering marriage and either you or your future spouse has significant assets or children already, you may benefit from a consultation with an attorney about a prenuptial agreement. Doing so may be the best way to avoid headaches later on for you or your families.
Source: New York Daily News, “Learn from the Kardashians’ mistakes: time to brush up on prenups,” Phyllis Furman, October 14, 2013