With all the romance weddings bring, it can be easy to have your head in the clouds, especially when you start to envision your future life with your partner. If this is the case, it may come as somewhat of a shock if your partner suggests entering into a prenuptial agreement before the wedding day arrives. After all, prenuptial agreements address the possibility of divorce, something that may seem unlikely at the time. However, the fact of the matter is that not every marriage is meant to last, so it is best for couples in Dublin, and elsewhere, to be prepared.
First, if a couple does decide to draft a prenup, they should not take the matter into their own hands. Instead, they should each retain their own attorney. A family law attorney understands Ohio divorce laws, and can advise you on your rights when it comes to drafting a prenup. This can help ensure that the final document is both fair and legally sound.
In addition, couples entering into a prenup must be prepared to be totally open and honest about all of their assets and debts. It is important to have the right financial documents on hand, along with tax returns and pay stubs. A “schedule” — that is, a list of assets and debts — needs to be included with the prenup, so having this information ready from the get-go is important. Also, each spouse needs to be prepared to have copies of this information to give to their partner.
In addition, since a prenup can include provisions for property division, it is important for couples to decide what assets will remain separate after they marry. Couples may also want to consider the possibility of waiving spousal support in their prenup. This decision should not be made hastily, since no one can predict what the future will bring. Keep in mind, too, that child support cannot be waived, per public policy.
These are only a few points to keep in mind when deciding to execute a prenup. Prenups may not be romantic, but they can be of vital importance should the marriage not last. So, don’t let the sound of wedding bells in your ears deafen you to the more practical matters in life. Planning for the future by executing a prenup can be a sound decision to make.
Source: Mediate.com, “10 Things to Consider Before Signing a Prenuptial Agreement,” Debbie Smith, Sept. 2017