Getting engaged and planning a wedding is a very romantic time in your life, but designing a life with someone else requires a great deal of practical planning.
While you may not see divorce on the horizon of your relationship, it is a possibility for any marriage. Having a prenuptial agreement in place ensures protection for both parties in the event the union fails.
Prenups are not just for the rich and famous
While popular media tend to portray prenups as a mechanism to maintain power imbalances in high-asset marriages, the truth is having a legally binding agreement for property and debt division defines responsibilities and takes the pressure off both parties. Prenuptial agreements are beneficial to all kinds of couples, including:
- Older couples with property and/or children from previous marriages
- Couples where one partner comes with significantly more debt than the other
- Couples where one or both partners own a business or have business partners
- Couples with one working spouse and one stay-at-home parent
- Couples where one partner is far wealthier than the other
Being prepared saves you time and money
Wisconsin is a “community property” state, but a prenuptial agreement allows divorcing spouses to break from the 50/50 rule of asset division. Without a prenuptial agreement, divorce battles can become contentious and costly for both parties. Having a plan ensures reduced conflict, accurate dispersal of marital property and no unnecessary legal bills.
While you and your betrothed hope for a long and happy marriage, nobody can predict the future. If your circumstances land you in a Wisconsin divorce court, you want to know your assets are safe.