Unless you have been living under a rock, you have probably heard of the notorious prenuptial agreement or “prenup” for short. Common among celebrities as well as the average Joe, a prenup is an agreement that is executed prior to marriage to determine who gets what if there is a divorce. Yes, it sounds like a romance-killer, but the truth is, divorce rates are high and if you do get divorced, having a prenuptial agreement can make a divorce go much more smoothly be determining the division of assets ahead of time. And it will hopefully save you some money in the process.
Today we’ll talk about why prenuptial agreements in Rolling Meadows might be an important factor to consider before you get married.
Does a Prenup Mean You Are Planning for Divorce?
Much as buying auto insurance doesn’t mean you are planning for an accident, a prenuptial agreement doesn’t mean you are planning for a divorce. What it does mean is planning for the unexpected. It is an opportunity for couples to create a document that outlines their financial goals and priorities. It means that couples are planning for their financial future.
Do I Need a Prenup If I Am Not Wealthy?
We hear a lot about celebrities and the super-rich having prenuptial agreements in place, but even if you do not have extensive assets, a prenuptial agreement can still be a good idea. Say you quit your job during the marriage to raise the children. A prenup can specify what kind of support you might be entitled to should a divorce happen. Or say you supported your spouse while he or she went to college. You helped pay for tuition as well as the student loans, then suddenly you are divorced—and basically, your ex has received a free education while you are out quite a bit of money. Rather than fight over this in divorce court—costing you even more money in legal fees—hammer it out ahead of time in a prenuptial agreement.
Is A Prenup Expensive in Schaumburg?
Most attorneys will charge by the hour for creating a prenuptial agreement, and as you might imagine, the costs will vary depending on each situation. Chances are, however, drafting a prenup will be a fraction of the cost of an expensive battle fought in divorce court.
The bottom line is that it makes sense to have a prenuptial agreement in many cases. If you are not sure if you need one, contact the Law Offices of Robert M. Kaplan, PC, and we can discuss prenuptial agreements in Schaumburg.