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Why attorneys report prenups are on the rise

On Behalf of | Jul 28, 2020 | Family Law

Couples in Wisconsin who are getting married may want to consider a prenuptial agreement. The American Association of Matrimonial Lawyers conducted a survey that found a significant rise in the number of couples asking for prenups.

This is no longer a document reserved only for the wealthy although having family money is still a good reason to get a prenup. Some people’s families might actually insist on one, and individuals who own their own business might also want one. People who plan to start a business might want one as well even if they go into the marriage with few assets or are in debt.

A prenup can be very important for a person entering a second marriage who has children from the previous marriage. It can help ensure that the children’s inheritance is protected. Without this protection, in a divorce, a parent’s property could go to the spouse and could subsequently pass to that spouse’s own children or even to a new spouse. Prenups cannot address child support issues for children not yet born, but such a document can add a layer of protection in case of an individual’s death. Couples may want a prenup simply because it will make the process of divorce less difficult. With a prenup in place, a divorce may be less stressful and time-consuming.

Attorneys may be able to assist in preparing a prenuptial agreement. Couples who sign a prenup should each have their own family law attorney to review it. They should also prepare and sign the document long before the wedding. If either of these actions is not done, it could appear as though one person received insufficient counsel or was pressured into signing. If a couple is already married and one wants to start a business or is concerned about protecting assets, a postnuptial agreement is an option.