You buy car insurance after purchasing a new vehicle, just in case someone ever smashes into you on the road. You enroll in your company’s health insurance plan, or purchase a private plan, in case you ever fall ill, need surgery, or have to go to the ER. So, why is it that drafting an “insurance” plan for your marriage is frowned upon?
Well, there are people who take advantage of others, pop culture doesn’t make things better, and it seems the general perception of prenups are that they set marriages up for failure, instilling relationships with mistrust or defeat. Whatever the reason, the truth is, prenuptial agreements are actually a smart step to take before you tie the knot.
It’s unfortunate, but over 50% of marriages end in divorce. And, when it comes to divvying up the assets, Indiana follows the 50/50 rule. This means the state presumes that an equal division is fair, leaving it up to you and your ex to argue otherwise.
If you received a large inheritance from a loved one, half of that money may go to your ex. Or, if you have a child from another marriage, some of your assets that should go to benefit them may end up with your ex-spouse. But with a prenup, you and your partner get to choose exactly how you’d like to divide your assets, making life a little easier if you ever do decide to end the marriage.
Prenups aren’t solely for divorces and separations. Having one can be a great help if you ever have to go through the death of a spouse. By sitting down with your partner and discussing the details before you get married, there will be no confusion if the unthinkable ever occurs, allowing you to focus on what’s important.
Do it right
While prenups take one difficult element out of going through a separation, divorce, or death, if done incorrectly, they can be thrown out in court, making things exponentially more challenging. To make sure you aren’t missing important steps, consult with your attorney before drafting any documents, or have them create the agreement for you. Additionally, don’t sign anything until you have had your lawyer review the agreement.
For more information on prenups and how they can help you and your family, contact Abigayle Hensley at 765-742-9066.
The content of this blog is intended to be general and informational in nature. It is advertising material and is not intended to be, nor is it, legal advice to or for any particular person, case, or circumstance. Each situation is different, and you should consult an attorney if you have any questions about your situation.