When should you consider a pre-nup?
A question couples approaching marriage should ask themselves prior to marriage: “What happens if this does not work out?” It's not a bad idea to hope for the best but plan for the worst. Consider these questions before getting married to determine if you may need a pre-nuptial agreement:
Do I own a business? Does my future spouse own a business?If either of you are business owners prior to marriage, you may want to consider executing a pre-nuptial agreement. Division of property by divorce is more complicated when one spouse owns a business. You can save you and your partner the trouble and have peace of mind that business ownership will not complicate the already high-stress decision of whether or not to end a marriage should the topic arise during marriage.
Is there property I want to leave to my children?If you have children from a past relationship, you may want to consider what marriage without a pre-nuptial agreement may mean for your children. If there are certain possessions or real property you want your kids to inherit, a prenuptial agreement is an easy way to alleviate that concern.
Is one of us coming into the marriage with more wealth? Do either of us have significant assets?The most obvious reasons to contemplate whether you need a pre-nuptial agreement is when you both have significant assets or if one of you has more wealth than the other. If that is your situation, you should not get married without a pre-nuptial agreement in place.