Getting married is one of the happiest times in one’s life. It provides a new beginning and changes the lives of two people, as they become one family. Such a big life-change also requires some action, like signing a marriage license or prenuptial agreement. While one may not desire to create a prenuptial agreement, it is important for couples in Pennsylvania to understand the purpose of such agreements.
The obligations the two joining parties would have in the case of the death of one or a divorce are outlined in a prenuptial agreement. This agreement allows one to determine what he or she would want done with certain assets and other obligations, rather than relying on the laws the state have set in place. In instances where one party is entering a second marriage and children are involved, a prenuptial agreement can outline custody arrangements and protect the children.
Additionally, a prenuptial agreement can be helpful when the joining parties have assets of vastly different values. This can protect both parties in the face of a death or divorce, even if it solely outlines the division of such assets. While a couple may not desire to make a prenuptial agreement, the process does not only make provisions for the future but also assists the couple in understanding their finances and assets.
A prenuptial agreement outlines how assets will be divided if an end comes to one’s marriage. It can ease the stress that would typically be present at that time. While this agreement is not a necessity, it provides many benefits. Pennsylvania couples looking to get married should research, possibly with assistance from a professional, the different aspects of such an agreement.
Source: Lexology, "Wedding bells are ringing: should you get a prenuptial agreement?", Bryan Cave, June 2, 2014