Although Williams` estate is worth millions of dollars, his case still offers a valuable lesson about the importance of writing strong and detailed defenses such as prenaptial agreements. In short, prenutial agreements often make sense for people who enter into another marriage after a divorce or after the death of a spouse. Prenutial agreements in these situations can help avoid friction between the couple over ownership of the property you worked hard for with your previous spouse, and that you may feel that the new spouse should not claim or share interests. For the same reason, marriage contracts help previously married couples protect their children`s inheritance from the “evil step-parent.” Marriage contracts can also make sense for people with exceptional financial means to protect them from “gold seekers”. Otherwise, however, I think marriage contracts start a marriage on the wrong foot. Is marital/post-marital “insurance” appropriate for your relationship to do everything you can to protect your marriage for better or for worse? How Prenaptial Agreements Work – A Case Study If you want more information about prenaptial agreements or are ready to create one for you and your future spouse, Tracy Lyson is an experienced family law lawyer who can help. Call 701-235-8000 or 877-235-8002 today! Studies have shown that discussing these issues and dealing with them before marriage is the best way to protect you and your future spouse from disappointment and struggle, later, if the marriage doesn`t work. Therefore, it is always a good idea for a third party to mediate in this discussion between you and your partner. If you have a financial planner with the skills to do this for you, they can help you prepare a document that could go to your lawyer to describe your assets to be excluded.
This should go a long way in giving you and your partner the transparency you need to make your future marriage a long and happy one. For most people (especially young people who get married for the first (and hopefully the only) time, I don`t think marriage contracts are a good idea. The very fact that the question is asked (whether marriage contracts are a good idea) implies that people have their doubts. A prenuptial or “preconsement” allows the parties to agree before the marriage on how they wish to divide their finances and property in the event of the breakdown of the marriage. Previously, such deals seemed to be for the super-rich. Recently, however, family law lawyers have noticed a significant increase in the creation of pre-nup agreements. This follows the founding case of Radmacher v. Granatino, 2010. Are marriage contracts still recognized by the courts? Other important factors when reviewing a marriage contract. But writing a prenutial agreement doesn`t mean you have any doubts about the sustainability of your marriage. It simply means that you`re both mature enough to have an honest and open discussion about something that can lead to fewer financial problems for you and your loved ones.