How a Lack of a Prenuptial Agreement Can Impact Your Divorce

About Me
Learning About the Legal Process

Nothing is more intimidating than a courtroom governed by a judge. In addition to dealing with your fear of public speaking and scary-looking court police officers, you might also be worried about winning your case. Fortunately, you don't have to go into any legal situation by yourself. By working with an attorney, you can learn more about the legal process without sacrificing your own sanity. Because I want you to know what to say and do in court, I think you should read through my blog. This information can help you to know what to expect, so that you can take this new experience in stride.

How a Lack of a Prenuptial Agreement Can Impact Your Divorce

4 February 2021
 Categories: , Blog

Many couples decide to get a prenuptial agreement before getting married for very good reasons since it helps address how all property will be divided and what the financial rights are for both people. However, a lack of a prenuptial agreement can cause your divorce to become much more complicated. Here are some potential problems that you can run into.

Distributing a Lot of Wealth

If there is one person in a marriage that has a significant amount of wealth compared to the other person before entering the marriage, a prenuptial agreement makes sense to protect those assets. Without a prenuptial agreement, it becomes very challenging to decide on property division during the mediation process.  One spouse is always going to feel like splitting things 50/50 will not be fair and try to fight for more of their fair share. A family lawyer can help fight on your behalf. You should get what is fair rather than split things straight down the middle.

Dividing a Business

Owning a business can become very complicated if a couple gets a divorce. If you want to make sure that your business continues to operate as normal and that a former spouse does not gain any control of the business, then a prenuptial agreement is a necessity for that to happen. The problem you'll run into without a prenuptial agreement is protecting the business, your employees, and making sure that things keep running. Your lawyer can help come up with an amicable way to divide a business, which will prevent a spouse from getting control and can negatively affect the business.

Passing an Inheritance 

Another reason that a prenuptial agreement is helpful is if one person enters the marriage with kids from a previous marriage. It is reasonable that the parent would want to protect some assets that they own for their children if a divorce were to happen, and a prenuptial agreement can ensure that it will happen. Without a prenuptial agreement, your lawyer will essentially be fighting on behalf of you and your children so that you do not lose everything in a divorce

Protecting You From Unwanted Debt

A prenuptial agreement can also help one person protect the other from debt that they have before the marriage. That is because debt can become a shared asset once the marriage begins, and the other spouse may want to be protected from having to pay that debt if a divorce were to happen. Your lawyer will assist with using that debt as a way to negotiate for other things that you want or to limit how much debt you need to take on after the marriage ends.