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Shillington, Pennsylvania Family Law and Estate Planning Blog

Why people need a prenuptial agreement

Posted by Rob Levengood | Jan 21, 2020 | 0 Comments

Pennsylvania couples who are planning to get married need to think beyond the upcoming wedding. As unpleasant as it seems, they also need to think about what would happen to their assets if they were to get divorced. One way to address this concern is to sign a prenuptial agreement.

This is especially recommended if one spouse is bringing money or other assets into the marriage. For example, one spouse may own a business or have an inheritance from their family. The assets may become part of the marital estate under certain circumstances and could be subject to division by a court. The prenuptial agreement would lay out ahead of time how these assets would get treated in a divorce.

The recent divorce settlement involving Jeff Bezos underscored the need for a prenuptial agreement. Bezos did not have a prenup and had to give tens of billions in shares in Amazon to his ex-wife in a divorce settlement that amounted to nearly a quarter of the value of his holdings.

Couples should resist the urge to avoid this type of discussion before the marriage. The consequence of not having a prenuptial agreement can be a bitter and costly divorce whereas the benefit of an agreement is certainty and reduced risk.

Those who are considering marriage may want to see a family law attorney to begin the process of a prenuptial agreement. The attorney may assist with drafting the agreement and negotiating the agreement with the other spouse and their attorney. A prenuptial agreement is not always easy to reach between the spouses and can lead to discord before they are even married. The attorney may help handle the situation so that it is easier for the spouses to remain on good terms.

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Rob Levengood



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