These days, there are many different types of insurance. The main purpose of insurance in most cases is to protect against personal or financial losses. For marriages, there are prenuptial agreements that work in the same way that insurance does. A prenuptial agreement is a great way future spouses in Kansas can protect themselves and hedge against a high asset divorce.
What are prenuptial agreements?
A prenuptial agreement, or prenup for short, is basically just a written contract created by two individuals prior to marriage. Sometimes referred to as a “premarital agreement,” a prenup will usually list all separate property and assets each person owns, as well as existing debts. Prenups can also specify what each individual’s property rights will be after the marriage.
Who needs a prenuptial agreement?
Prenuptial agreements are often thought of as being for wealthy people only. However, the majority of future spouses could benefit from a prenup. Even if an individual is not wealthy or does not have many assets at the time of the marriage, he or she could become wealthy later in life. Just like marriages, prenuptial agreements should never be rushed. Spouses to draft and sign the agreement well in advance of the wedding.
A prenuptial agreement can protect an individual before marriage and give him or her a sense of security in the event of divorce. Keep in mind that prenups are legally binding contracts, so it is recommended to seek professional assistance before beginning the drafting process. A trusted and experienced family law attorney can help individuals in Kansas decide whether a prenuptial agreement is right for them.
