Many people are under the misconception that discussing prenuptial agreements means that their future spouse has little faith in the marriage. That is simply not true. A prenuptial agreement can essentially be compared to an insurance policy – you hope you never have to use it, but if you do, you are thankful that it is there to protect you. It is no secret that divorces can be quite complicated and a prenuptial agreement can help alleviate some of the stress and actually de-complicate some of the issues typically encountered during a divorce.
How Do You Know If A Prenuptial Agreement Is Right For You?
If you or your spouse enter “yes” to any of the following questions, you should consider having a prenuptial agreement drafted:
- Do either of you have professional licenses or degrees?
- Do either of you have significant family wealth or expected future inheritance?
- Do either of you currently earn more than $100,000.00 per year?
- Is there a disparate difference between your income / assets and those of your future spouse?
- Do either of you consider yourself high net worth individuals?
- Do either of you have specific property you want to protect?
- Does your spouse have significant debt or student loans and you do not?
- Do either of you have significant stock holdings, stock options, profit sharing, bonds, other investments, or cash?
- Do you have any children and/or grandchildren from a previous marriage?
- Do either of you own any real estate (including investment / rental property)?
- Do either of you have any oil and gas interest or wind royalty interest?
- Are either of you a business owner or have a family owned business?
- Do either of you have retirement benefits?
- Do you have loved ones who need to be taken care of such as elderly parents?
- Do you want your estate (or even just part of it) to go to your children (and/or children of a former marriage) instead of your spouse?
What Are Circumstances When You Can Challenge A Pre-Nuptial Agreement?
- If it was obtained under fraudulent circumstances, against your will, and without allowing you the opportunity to consult with an attorney.
- If it was constructed in a way that unfairly benefited your partner.
- If the circumstances under which you created a prenup changed considerably since signing
If you are getting married soon and need help with a Pre-Nupitial Agreement, reach out to Hayes Legal Solutions, PLLC today. Call us at 405-635-5578 or contact us online. If you are ready to schedule an appointment, click below.