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What are common reasons for getting a prenuptial agreement?

Prenuptial or postnuptial agreements may not be for everyone, but they may be helpful in some situations. Those familiar with what it takes to craft an agreement that is enforceable under Pennsylvania state law know that there are particular conditions that tend suggest when having such a contract might be a good idea.

Here are a few of the issues to consider to examine if you might benefit from a prenup or postnup as presented by one wedding planning person.

  1. If you or your intended have been married before there might be value in having a prenuptial agreement. It can be a good way to make sure that obligations or assets resulting from the previous marriage don't get tangled up with the new union.

  2. The existence of a first family by virtue of a previous relationship is a good reason to consider a prenuptial agreement. If you have desires to ensure that assets get divided in a particular way between previous and current family members, you should create a will. But to ensure that both parties in the new marriage are on the same page about all the issues, a specific prenup or postnup can help.

  3. Differences in the party's individual financial status can put significant pressures on a marriage. If one spouse has a great deal more money or a great deal more debt, a prenuptial agreement can offer protections that could be crucial in the event of a divorce.

  4. If either or both of the parties are entrepreneurs you might want a prenuptial agreement in order to protect your business interests. Involvement in a family business might be good reason to consider a marriage agreement as well.

  5. A desire to keep private things private may be best met through a nuptial agreement. Confidentiality clauses that bar both individuals from going public with negative comments or personal information in the heat of divorce are becoming more common.

These are just a few thoughts on what might drive the creation of a prenup or postnup. Whether such action might be appropriate for your situation is something best discussed with an experienced attorney.

Source: The Huffington Post, "Everything You Need To Know About Prenups," Ivy Jacobson, TheKnot.com, June 1, 2015

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