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Deciding to Create a Prenuptial Agreement

The current divorce rate in the United States is about 50 percent, according to DivorceRate.org. With a number that high, it is a fair concern to be worried about what will happen to you financially if you divorce your partner. One way to protect yourself from financial troubles in the event of the end of a marriage is to get a prenuptial agreement.

Should the marriage come to an end, either by divorce or death, a prenup will serve as an outline for how the debts and assets of the couple will be distributed. Prenups are often touchy and emotional subjects with couples, but New York City financial advisor Nancy Dunnan suggests that couples “Think of it as a(n) insurance policy...marriage is not just an emotional and physical union -- it's also a financial union.” It is a common misconception that prenups are only for the rich. Even if you have very little, financially, you can still protect what you have in a prenup. Consider a prenuptial agreement if you relate to any of the following:
  • You have assets like a home, stocks, or retirement funds;
  • You are the owner of a business;
  • You are expecting to receive an inheritance;
  • You expect a large increase in your income;
  • You are pursuing a degree or license in a potentially lucrative profession such as medicine or law;
  • One partner is much wealthier than the other;
  • You have children or grandchildren from a previous marriage;
  • You have to care for relatives like elderly parents;
  • One partner is supporting the other through college;
  • Either partner has large debts or loans.
If you are getting married and you would like to protect your assets in case the marriage ends, do not be afraid to do so. It is important that you can protect what is yours. Contact a family law attorney in Naperville, Ill. to help you create the prenuptial agreement for you and your partner. Attorneys at Roscich & Martel Law Firm can help you smoothly protect what is yours today.
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