Before you hear the wedding bells ring you have to decide whether or not a prenuptial agreement is right for you. A prenuptial agreement, often abbreviated “prenup”, is an agreement made between the two people who plan to marry concerning the ownership of their respective assets in the event of a divorce. The State of Georgia recognizes both pre and post-nuptial agreements.
Before you say “I do,” consider the following five benefits to having a prenup:
Five Georgia Prenuptial Agreement Advantages
- Certainty and peace of mind. A prenup spells out the financial obligations and understandings of each person. The agreement sets expectations and lessens uncertainty about asset allocation in the event of a divorce.
- Debt protection. If your other half brings a considerable amount of debt to your marriage, a prenup would protect your assets from being used to satisfy their debts incurred outside the marriage.
- Minimize divorce acrimony. Having a prenup would relieve a considerable amount of tension in case of a looming divorce. The divorce process would involve less conflict, stress and resentment.
- Protecting children and beneficiaries. A prenup would protect the inheritance and investment of children from a previous marriage and other beneficiaries..
- Cost. A prenup would cost you about half the cost of an average engagement ring. To protect his or her interests, both parties should retain a Georgia family law attorney experienced in drafting marital agreements. Doing this would pay dividends in the long run if death or divorce were to occur.
In addition to the five advantages, a prenup would clarify all private agreements and help avoid extended court proceeding and additional legal fees.
Let Our Experienced Family Law Attorneys Help
Our attorneys recommend creating a prenuptial agreement well in advance of your wedding day. Give you and your soon-to-be spouse the time to plan and ensure that the romance is not taken out on the big day.
Understand your options on prenuptial agreements during an initial consultation. Please call the attorneys at Stearns-Montgomery & Proctor today at 770-280-1488 or complete a contact form to schedule an appointment or to receive additional information.