When you make the decision that you are getting married a lot of different emotions come to the surface. Initially most people are happy and exci ted bu t after everything sinks in you start pondering a lot other things like: sharing living space with someone else; should I sell my house or should she sell hers? Do we get a joint checking account? How do we share the living expenses? As you can see getting married can be a very daunting process. As you think more a bout this new chapter in your life the questions may arise: Do I need a prenuptial agreement? Or, Should I sign a prenup agreement?

What is a prenuptial? A prenuptial agreement (aka prenup or prenupt) is a contract entered into prior to marriage between the two people who are intending to marry each other. In some jurisdictions a prenuptial agreements are referred to as an antenuptial agreement, or premarital agreement. A prenuptial may cover a variety of issues, but the most provision deal the division of property and spousal support in the event of a divorce. Some may deal with the forfeiture of certain assets in the event of a divorce as a result of adultery or other immoral actions of the other spouse.

However, there are some marriageable issues that the courts and law do not allow a prenuptial to deal with. As with any other contract a prenup cannot deal with anything illegal. Other examples are: the custody of the children; child support; child visitation; anything that is unconscionable (unfair). Even though, most s tates allow a prenup to address alimony and spousal support matter, most courts have the authority to invalidate any provisions that is determined to be unjust.

So , should you have a prenuptial? To answer this question it is important to understand that every state and every married couple already have a certain prenuptial requirements. These prenuptial requirements are known as the divorce laws. Divorce laws can be considered as default prenuptial agreements in that these laws provides how property, finance and support would be proportion in the event of a divorce. Therefore, a prenuptial is used to provide different terms of division of property that what state laws require in a divorce.

You should strongly consider a prenup in any of the following situations:

Prenuptial agreements are most common in situation where one of the parties is much wealthier than the other one; and, where one party earns a lot more than the other. In these circumstances a prenuptial may limit how much alimony is paid and/or what marital property may be divided.

If either party owns a business or part of a business a prenuptial is almost always in order. In the event of a divorce a spouse may be entitle to an interest in the business. A prenuptial can ensure that the other spouse does not become an unexpected and unwanted partner in the business.

One of the parties has a high debt load. A prenupt can ensure the other party is not responsible for the other party’s debt. A prenuptial may also provide protection to a spouse in the event the other spouse has to file bankruptcy.

Prenuptial not only provides protection for the most affluent spouse but may provide security for the financially weaker spouse or a spouse that choose quit working to stay home with the children. Prenuptial can ensure that the less affluent spouse is sufficiently provided for in the event of a divorce.

Also, prenuptials are common with older couples or couples who are remarrying. Often time these individuals already have a significant amount property and assets prior to the marriage. Also, there may be children from a previous relationship which a spouse wants those children to benefit from his or her estate. A prenup can provide that any such property and/or assets shall remain separate and apart from the martial property.

I truly believe that every person who is getting married should strongly consider with a prenuptial should be in place before you tie the knot. A good prenuptial agreement will remove any uncertainty of the division of property and can be beneficially to both parties.