Pros and Cons: Premarital Agreements (“Prenuptials”)

Advantages

• Protection of inheritance rights of children and grandchildren from a prior marriage.

• Protection of business or professional interest from division or control or involvement of the former spouse in case of divorce.

• Protection from liability for the debts of the other spouse.

• Compensation in case of divorce for sacrifices to contribute to the marriage such as giving up a high paying job.

• Determination of the financial obligations of the spouses.

• Determination of the amount of spousal support in case of divorce.

• Protection of financial interest of older persons entering into a subsequent marriage or the financial interests of wealthy individuals.

Disadvantages

• Your spouse can deprive you of your right to inherit his or her estate in case of his or her death.

• You can be deprived your share in the increase in the value of your spouse’s business or profession even if you made any tangible or intangible contribution the growth and success of the business or profession.

• A Prenuptial Agreement can create a sense of mistrust – why would you or your spouse want to start the relationship with a contract setting forth what happens in case of death or divorce.

• Takes the wind out of emotional sails.

• It is difficult to predict the future. Any insignificant compromise you make now may appear as a major mistake later.

• In case of a divorce, the spouse with lesser financial resources may find it difficult to sustain the lifestyle he or she had gotten accustomed to during the marriage when the agreement limits the amount of spousal support.

• Many terms are agreed to during the honeymoon phase of the relationship when the spouses are madly in love without knowing the consequences.

Would you like to discuss your legal matter?

PHONE

image description
Evyn Alvares RECEPTION (877)509-5204

I assist in scheduling new and existing clients for all offices. For initial consultations I will ask you a few questions and then find the best time for you to talk to one of the lawyers that best fits your legal matter.

Call me or use the email form and I will follow up with you right away.

EMAIL

The Law Offices of Tom Hogan will provide you with personalized attention and guidance. Protecting your rights is our main objective. We have been representing clients for the past 30 years and our experienced team of attorneys will advise you of the legal consequences of every decision you take.