Who Should Consider Prenuptial Agreement

When planning a wedding, nobody wants to think about such grim events as disagreements, family problems, or even divorce. However, those events do happen at times, and it's always best to be prepared.

Prenuptial agreements, also known as domestic contracts, may be a much-needed vehicle for avoiding and/or sorting out future disagreements. While some couples may be against the idea of signing a prenuptial agreement (and may not necessarily need to do so,) others should seriously consider drafting up this important document. In fact, for couples in certain situations or circumstances, prenuptial agreements are significant and almost necessary. You should consider a prenuptial agreement if:

* You or your future spouse own a considerable estate, await a sizable inheritance or debts payable to you, or otherwise own large amounts of property. When you are bringing large personal and/or real assets into a relationship, be sure to account for them before actually getting married. While no bride and groom wants to think about divorce, the possibility is still present. And you certainly won't want to watch your own hard-eraned assets disappear along with a marriage that unfortunately didn't work out.

* You or your future spouse have children from previous relationships. In order to balance the interests of your children with the interests of your future spouse, put everything in writing. In the event of death or divorce, a prenuptial agreement may help avoid either your children or your spouse being short-changed.

* You and your future spouse plan to cohabit in a common law marriage for a large period of time. Whether or not you're contemplating actually getting married in a civil union, legally speaking, common law marriages aren't as simple as they are made out to be at times. Laws vary by state considerably. In order to avoid ambiguity if and when the need arises for distribution of assets, be sure to put everything in writing with your common law spouse.

* You or your spouse anticipate future disability or other imminently dangerous circumstances. Be sure to account for those instances in a proper domestic agreement. After all, you wouldn't want to leave your love stranded, would you?

In particular, if any of these situations applies to you, it may be a good idea to draft a prenuptial agreement. It never hurts to be ready for the worst!