Compassionate Guidance

Through Difficult Personal Times

Will a prenup help in divorce?

| Aug 20, 2020 | High Asset Divorce

You agreed to sign a prenup when you got married. You assumed, at the time, that you would never need it. So did your spouse. You were just being careful. Now, ten years later, you are getting divorced.

You haven’t thought about that document in a decade, but it’s still valid. Is it going to help?

It certainly can. Some have called signing a prenup a “professionally wise” decision. It can be a hard conversation when you first talk about it, but it’s a good move in the long run. It can give you some options and protections you just wouldn’t have otherwise.

For one thing, it can help to protect all of the assets that you think of as your own. Maybe you’re a business owner who is hoping to have a million dollars in income this year. You do not want your divorce to threaten the health of your business. If your prenup was written properly, you’re already protected, so you don’t have to worry.

Or, perhaps your wealth comes from an inheritance. Clearly, your parents put that money together for you. They want you to have it and they want it to remain in the family. This may happen anyway, but it may not — if the assets were commingled, for instance, or if you ever gave your spouse access to them. With a prenup, though, you can state in uncertain terms that the inheritance belongs to you and you alone.

These are just a few ways that a prenup may help. Make sure you know what rights you have, what protections it gives you and how to move forward with your case.