By Jamie Spero
"Do I need a Pennsylvania prenuptial agreement?" If you have asked yourself this question before, the answer is probably yes, you need a prenuptial agreement, or at the very least you should talk to a lawyer about your options. If you want to know why, keep reading today's blog by your Western Pennsylvania prenuptial agreement lawyers.
A prenuptial agreement, most commonly known as a prenup, is an agreement that soon to be spouses enter into prior to their marriage. In this sort of agreement, the couple decides various things including what will happen in case one of them dies during the marriage or if they divorce. They can outline the division of assets and debts, if either will be receiving alimony, and many of things that are normally decided during a Pennsylvania divorce.
You probably want a future spouse to sign a pre-nuptial agreement if you have something you want to protect from the Pennsylvania equitable distribution process in case you end up filing for divorce. One or both potential spouses may want to avoid the risk of a major loss of assets, income or a family business in the event of a divorce. Pre-nuptial agreements are also used by spouses marrying for a second or third time that want to make sure that certain assets or personal belongings are passed on to the children or grandchildren of prior marriages.
We advise our clients that they may want to consider entering into a Pittsburgh prenup many reasons, some of these reasons include:
- You have assets such as a home, stock or retirement funds
- You own all or part of a business
- You may be receiving an inheritance
- You have children and/or grandchildren from a previous marriage
- One of you is much wealthier than the other
- One of you will be supporting the other through college
- You have loved ones who need to be taken care of, such as elderly parents
- You have or are pursuing a degree or professional license
- You could see a big increase in income during the marriage
- One of you has (or anticipates having) debt.
There are times when a PA prenup may not be necessary, but some sound premarital advice from a Pittsburgh family lawyer could be beneficial to the future spouses. Marriage is a contract that involves many financial decisions along the way and our Western Pennsylvania prenuptial agreement attorneys can help guide you right from the beginning of the marriage. For more information, contact our office to schedule a consultation.