Prenups can be useful documents in divorce process

Prenups can be useful documents in divorce process

On Behalf of | Sep 20, 2018 | Divorce, Firm News |

When a Wyoming couple or others around the nation decide to end their marriages, one of the many issues they must resolve is how to divide their marital property. Each state has specific guidelines about how this should occur in a divorce. However, many couples elect to create a prenuptial agreement to deal with how their property should be divided. Financial analysts believe that developing a prenup may be in some couples’ best interests.

Experts are seeing an increase in clients who request information about such agreements. In the past, there seemed to be negative connotations when addressing these issues. Now, there are many factors that have created an environment where marital agreements are more commonplace. For instance, couples marrying later in life with children from previous marriages often see the need for a prenup. There are several other reasons why a couple could benefit from having one.

When one spouse comes to a relationship with significant assets or plans to inherit a large estate, it may be worthwhile to address this prior to a wedding. In most cases, those types of assets would likely remain with the spouse who had them initially; however, provisions to divide them another way could be made. Also, arrangements for businesses should be included in prenups. Otherwise, the business operations may be halted or discontinued completely while a dispute is underway.

Decisions may also be included regarding how children will be raised should a divorce occur. Child custody or child support responsibilities are often outlined in these documents. Another financial consideration is the amount of debt one spouse may bring to a marriage. Provisions for who will pay those debts are important points to consider. Some recent prenups are also addressing which spouse will keep and care for a family pet.

Obviously, provisions in a prenuptial agreement would be as diverse and unique as the couple themselves. To ensure that an agreement is written with the best interest of an individual in mind, it would be wise to seek the guidance of a Wyoming divorce attorney. A knowledgeable lawyer will work with clients throughout every step of the divorce process.