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Prenuptial agreements and when to insist on having one

A common source for squabbles and outright disputes in Indiana family law centers around the prospect of prenuptial agreements. The person asked to sign such an agreement is often offended at the implication that the marriage will not work out or that he or she is looking to receive the other person's assets. From the perspective of the spouse who wants the document, it is designed to protect them in case the marriage fails.

Signing or not can be negotiable, but there are times when a person should insist on the prenuptial agreement. If it is a second marriage and there will be a blended family, a prenuptial agreement is a good idea. A person's assets, retirement accounts and more can be complicated. Disagreements between the former spouse and the new spouse can erupt. To avoid this, a prenuptial agreement can address concerns before they arise.

For business owners, it is also wise to have a prenuptial agreement. Many family-owned businesses that have lasted for generations have been ruined because of a divorce. With a business, there will likely be products and intellectual property that could be compromised. Having a prenuptial agreement can protect that.

For couples who have a different level of assets when they enter the marriage, a prenuptial agreement is beneficial. Many might think this only applies if they are millionaires, but that is not the case. Anybody who has more assets than his or her spouse, or expects to in the future, should weigh the value of a prenuptial agreement. Although it might be uncomfortable to ask for a prenuptial agreement, it can be essential. Creating a comprehensive document generally requires professional assistance. Legal advice from a law firm experienced in family law and divorce may be helpful.

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Robert Schembs
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