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Why Prenuptial Agreements Might Be Beneficial

On Behalf of | Apr 24, 2020 | Blog, Divorce

Individuals in Hawaii and throughout the country who are planning on getting married may benefit from asking their prospective spouses about prenuptial agreements. Having a conversation about a prenuptial agreement may be ideal for those who come from wealthy families or who are planning on starting a business in the future. Prenuptial agreements can also be helpful for those who want to make the divorce process easier in the event that the marriage doesn’t work out.

Prenuptial agreements could stipulate that a deceased spouse’s assets go directly to the surviving spouse. Without such an agreement, there is a chance that those assets could go directly to the deceased person’s children. There is also a chance that assets are protected by trusts or other estate planning documents executed by the deceased spouse’s family. Ultimately, this could result in a surviving spouse becoming dependent on an adult child or the generosity of a former spouse’s extended family members.

It is also possible to use a prenuptial agreement to ensure that assets go to a son or daughter if a marriage ends for any reason. If a person gets married for a second or third time, property that was meant to be passed down to a child might instead go to the spouse if the marriage fails.

While a prenuptial agreement may make the divorce process easier, it is still possible to obtain a favorable settlement without one. It is also important to note that the original terms of such an agreement may not be enforceable under state law. An attorney may be able to review an agreement to determine if it is still valid.