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Why couples may want to consider a prenuptial agreement

Prenups are not just for the very wealthy or celebrities. Many couples in Georgia who are not rich or famous might benefit from a prenuptial agreement. With a prenup, a couple can make an agreement about the assets they are bringing into the marriage, how they will divide assets they accumulate during the marriage and whether one partner will pay support to the other in case of divorce.

However, a prenup has several other advantages, including some for couples who do not separate. It requires them to fully disclose all their assets and debts prior to the marriage and to have an honest conversation about money. In some marriages, one person handles all the finances and the other knows very little about them. This can leave the partner with little financial knowledge at a disadvantage during the divorce. There is a discovery phase in divorce that requires each spouse to disclose their finances, but a prenup ensures that both partners go into the marriage with this information.

Couples may also want to have this conversation about finances regularly throughout their marriage. During a divorce, some people find out for the first time that one spouse has acquired significant debt. Both individuals could be held responsible for this debt after divorce. Regular talks about the family finances might prevent this.

Even if a couple has a prenup, divorce may be a difficult process. Furthermore, if there are children, the couple still must negotiate custody, visitation and support since these cannot be included in a valid prenup. Parents may want to share custody, or one might have sole physical custody. This does not preclude ample visitation time for the other parent. With help from legal counsel, a divorcing couple could reach an agreement outside of court on property division, child custody and other family law issues.

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Hecht Family Law
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