In order to protect your assets and financial interests after a divorce, couples often consider entering into prenuptial agreements where they include, in writing, their requests regarding property division, alimony, etc. Also called an antenuptial agreement in Alabama, a prenuptial agreement is a contract between two marrying persons that establishes how the couple wants specific matters decided when the marriage comes to an end. Common reasons where a prenuptial agreement is beneficial include:
- Second marriage, if you have current financial obligations from the previous one
- One partner is wealthier than the other
- Your partner possesses a great amount of debt
- You own a business or a portion of a business
- You own an inherited or estate property
There may not be a romantic way or appropriate time to discuss property and finances, especially in an event of a divorce. Considering a prenuptial agreement forces a couple to control many of these issues immediately when the relationship is still new and untried, possibly resulting in one of the parties to feel unpleasant and have second thoughts about the marriage. However, making a prenuptial agreement may reinforce the marriage by improving the quality of your relationship and foster valuable communication. Discussing these heavy topics early can eradicate misunderstandings, which might occur during the marriage.
For more information, contact our Birmingham divorce attorney and schedule your free consultation today!