While the focus is on the wedding planning, there’s also the need to be practical. What would happen if the marriage does not work out? How will the assets be divided? One of the best ways to ensure there is no question as to what happens to the assets and belongings if a divorce takes place is to prepare and sign a prenuptial agreement before the wedding takes place. Here is how a family law attorney can help draft the document.
Inventory of Assets
Both parties will bring some type of assets into the union. Those assets may be in the form of real estate, stock certificates, or personal belongings that happen to be worth a great deal of money. In some cases, the belongings may have more sentimental than monetary value.
Choosing to make an inventory of those assets and belongings is the first step toward preparation of a prenuptial agreement. As the family law attorney will explain, the goal is to ensure there is a provision that allows each person to retain anything they brought into the marriage. This means family heirlooms and other important assets are not lost if a divorce should take place.
Dividing Assets Acquired During the Marriage
Recognizing that each party contributed to the accumulation of wealth during the marriage, the agreement will also contain provisions aimed at dividing those assets equitably. The terms of the agreement can include conditions that would alter who would receive what of those assets. For example, if the marriage ends due to infidelity, the spouse with a wandering eye may not receive an equal share of the assets acquired during the marriage.
The hope is that the marriage is a happy one and the prenuptial agreement can collect dust in a drawer. Even so, being prepared for the possibility of divorce does require planning in advance. Visit Website Domain today and arrange for an appointment. Even if the couple does not have much in the way of assets at present, having the details for the division of property worked out ahead of time will make dealing with the possible dissolution of the marriage less complicated.