As our readers of this Ohio-based family law and estate planning blog may know, the property that a person owns may have different classifications under the law. This is particularly true if they are marred; a spouse may have their own property that they do not share with their significant other and they may have property that they hold jointly with their husband or wife. In the event of a divorce, a person may find themselves fighting to prove that certain property is separate when their soon-to-be ex-spouse claims that it is shared.
This is only one example of how property, money and assets can be contested during a divorce. Although it is not at all idealistic to consider, a prenuptial agreement may save couples from squabbling over who will take certain items when the partners are no longer together. Prenuptial agreements that are validly executed may alter divorce outcomes by their terms and the agreements the parties made.
A prenuptial agreement may help a person protect business interests from the reach of their spouse, and it may help a person demonstrate that they contributed to the purchase of an asset that their ex-spouse believes should be separate property. A prenuptial agreement may allow the parties to decide how their debts will be assigned if they divorce and may save them the headaches of undergoing those negotiations.
In the end, prenuptial agreements let parties work out certain terms that may become relevant if they divorce. Prenuptial agreements cannot address matters related to children, but all couples that are planning to wed should consider whether they may benefit from having prenuptial agreements in place before they get married.