On behalf of Stange Law Firm, PC posted in Family Law on Tuesday, August 9, 2016.
Many Missouri couples intending to marry begin planning for their future together in advance. In addition to planning an actual wedding ceremony and celebration, some choose to address certain issues pertaining to personal assets and future marital property. For various reasons, some determine that signing a prenuptial agreement is the best way to document separate property and establish procedures for issues that may arise in the future.
By signing a formal agreement before marriage, an intended spouse can avoid lengthy court battles concerning property distribution should a future situation bring forth a need to address the issue. In light of the fact that not all marriages last a lifetime, many believe that conflicts in divorce may be avoided if a plan has already been set in place regarding assets and property distribution. It is also possible to limit debt liability by assigning credit card debt, mortgage loans or other outstanding financial expenses to a particular spouse.
Some say discussing such matters before marriage puts a damper on a relationship; however, data suggests that when a divorce does occur, complications often arise concerning finances. Discussing such issues ahead of time and developing a plan of action may help prevent disagreements further down the line. Some couples choose to wait until after they are married to sign contracts regarding assets, property and debt liability.
Whether a Missouri couple chooses to sign a prenuptial agreement or a postnuptial contract, it is advisable to seek guidance from a family law attorney ahead of time because the laws pertaining to each type of agreement are different. For instance, if a couple wishes to address child-related matters, such issues cannot generally be included in a prenuptial contract. Anyone with questions regarding such matters can obtain answers during a consultation with an experienced attorney in the area.
Source: Findlaw, “How to Determine if a Prenuptial Agreement is Right for You“, Accessed on Aug. 9, 2016