Alabama couples have a lot of things to plan before the wedding day. One thing that should be a part of their wedding preparation is considering a prenuptial agreement. This document will help protect their assets in the event that the marriage is not successful. Otherwise, what they brought into the marriage could be at risk.
A prenuptial agreement is a form of an insurance policy. Many couples who sign one will never need it. However, some may eventually require the protection that the agreement affords. For example, if a prospective spouse has family money or owns a business, they could be forced to give up some of that asset in a divorce. However, when they sign a prenuptial agreement, it will dictate ahead of time how that asset is treated in a divorce settlement. This can be what keeps the asset in their possession.
While many couples in the past hesitated to negotiate a prenuptial agreement due to the negative stigma attached, more people are opting for one these days. Specifically, millennials are considering prenups since they may have more assets when getting married. Some are also children of divorced parents and had a front-row seat to their parents’ split when they bitterly fought over money. This is a way to reduce some of the hassle and expense that is associated with divorce ahead of time.
In order to negotiate and devise a prenuptial agreement, an individual may consult with a family law attorney. Each party to the agreement will need their own legal representation. The advantage of hiring an attorney is that the attorney may be the one to handle negotiations. An aversion to talking about money with a future spouse is one of the main reasons why couples will not consider a prenuptial agreement, so consulting an attorney might be helpful.