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Financial considerations before creating a prenup

While a Spokane couple may not want to think about how they will divide up wealth and property if the union ends in divorce, many couples find doing so to be necessary and helpful. Effectively, creating a prenuptial agreement, also known as a prenup, is doing just this. It is the negotiation of the parties' assets and debts into a property settlement plan that will save them time and possibly money if they choose to bring their marriage to its legal end.

When considered in this light it may be surprising that any couple would want to engage in prenuptial discussions before saying its "I do's". However, for some individuals creating prenups is not only responsible but an important step in preserving the assets and wealth that they have accumulated prior to joining their lives with their significant others.

The remainder of this post will introduce some of the factors that may sway a person toward wanting a prenuptial agreement before they enter into a marriage. As with all legal considerations, though, readers are encouraged to talk to their family law attorneys about whether their specific situations may warrant prenuptial agreements for their relationships.

Individuals who own real estate and assets in excess of $50,000 may benefit from having prenups in place before they get married. Likewise, individuals who own business interests, who earn incomes in the six figures, and individuals who may wish to provide for others besides their future spouses in their estates should consider prenuptial agreements as a means of protecting their wealth from divorce.

There are many other factors that may support a person's need for a prenuptial agreement. Having such a contract in place can have great influence over the disposition of assets in the event that the parties to the agreement choose to end their marriage in divorce.

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