Importance of a Prenup for High Net-Worth Divorce
Even the most straightforward divorces are challenging legal matters, and if you have a high net worth, there is unlikely to be anything straightforward about your divorce. One of the most important financial considerations for anyone with high assets and headed toward marriage is the matter of a prenuptial agreement, and an experienced Minnesota prenuptial agreement attorney can help you with that.
A Prenup Is Not a Predictor of Divorce
Many couples who are preparing to marry choose to ignore the issue of prenuptial agreements because they are so closely associated with divorce in many people’s minds. The fact is that prenuptial agreements are nothing more than legal contracts that delineate how certain financial aspects of a divorce – or of one spouse’s death and attendant inheritance – will proceed in the event that it becomes necessary. Having a prenuptial agreement in no way increases your risk of divorcing and it may provide you with the kind of peace of mind necessary to bolster your marriage.
High Assets Are Closely Associated with Contentious Divorces
If yours is a high net worth marriage, it does not mean that you are more likely to divorce, but it does mean that – if you do – you can expect it to be contentious. Having a prenup in place can help reduce the time and expense associated with obtaining a high net worth divorce, but there’s more to it than that.
How a Prenuptial Agreement Can Help
Having a prenuptial agreement in place can help in all the following ways:
- Implementing a prenup ensures that you and the person you’re marrying talk honestly and openly about finances prior to marriage, which fosters communication and can strengthen your relationship.
- The financial decisions you include in your prenuptial agreement are made outside of the emotional storm that is divorce, which ensures that they are made with a clear view of your best interests and what is fair.
- A prenuptial agreement can help you clearly identify separate property, which – otherwise – is more likely to become entangled with marital property over the course of a marriage.
- A prenuptial agreement is the surest way to protect the inheritance rights of any children either of you brought into the marriage with you.
If you are entering a marriage in which you have considerably more assets than your partner or in which you have specific assets you’d like to protect in the event of a divorce, consulting with a dedicated prenuptial agreement attorney is always well advised.
It’s Time to Consult with an Experienced Minnesota Prenuptial Agreement Attorney
Divorces involving high assets tend to turn up the heat on an already challenging legal process, which makes having a well-considered prenuptial agreement in place a good plan. The formidable Minnesota prenuptial agreement attorneys at Atticus Family Law focus their practice on helping clients like you protect their financial rights – while helping to bolster their marital ties. To learn more, please don’t wait to contact us today.