Why it is important for Couples to consider Prenuptial Agreement
The best advice can be provided by Jag Virk Family Lawyers when you need a prenuptial agreement that will set the rights and responsibilities of each party in a relationship. Many couples understand the importance of prenuptial agreement because it can be the best protection for their individual interests. Jag Virk can provide the best advice and assistance in drawing up the agreement so that it will be tailored according to your specific situations.
Marriage is not only a romantic relationship; it can also be considered as a business relationship. There are instances when one spouse has inherited property from parents and grandparents. A premarital agreement will protect the inheritance rights of the children in case of divorce or dissolution of marriage. Jag Virk is your best guide to walk you through every step and section of the prenuptial agreement based on the individual circumstance that has to be considered.
A prenuptial agreement is essential if one of the spouses has his own business or a professional practice so that it will not be divided or subjected to control or involvement of a previous spouse after the divorce. If there is no prenuptial agreement, the other spouse will be entitled to a portion of the business or professional practice after a divorce. Under the laws of some states, any increase in value, continuing growth and success of the spouse’s business or profession would be considered as divisible material property.
Starting a relationship with a prenuptial agreement is usually perceived as lack of trust but Jag Virk can intercede so that the agreement will not be a reason for misunderstandings. It is difficult to predict the future and many potential issues may arise during the marriage. The premarital agreement will not only cover the financial aspect of the relationship but other details in the decision-making process. Without an agreement, both spouses share in responsibilities and decision-making. If one spouse accumulates debts due to an extravagant lifestyle, the debt-free spouse will be protected.
While most courts honor prenuptial agreements, there are situations where they can be challenged. When the prenuptial agreement is drawn by a professional lawyer, you have the peace of mind that you are properly protected.
