Wolf, Baldwin & Associates, P.C.

Should you enter into a prenuptial agreement?

Deciding whether or not to enter into a prenuptial agreement with the person you plan to marry is a very difficult decision. Since each couple's situation is unique, it is wise to base your decision to sign or not to sign on your own personal circumstances.

If a young couple is just starting out in the world and each have very little property or only a few assets between them, there may be no practical reason to create a prenuptial agreement unless the parties have concerns for their future. A couple may be unsure about the management of their future household and have no way of knowing the answers to the questions that may be asked. In some cases, it may also not be worth attempting to create a prenuptial agreement if it seems to be creating unneeded stress in the couple's relationship.

If one or both parties are coming into the marriage with property, assets or even with debt, however, a prenuptial agreement could be a benefit. Prenuptial agreements can help to document what the couple considers marital property and what is community property. It can also work to assign debt to the appropriate spouse so that both would not have to unfairly share the burden of debt liability. As an example, if one spouse has a large student loan that is considered solely theirs, the prenuptial agreement could state that the other spouse would not be liable for the debt.

Emotions often run high during wedding planning. Couples may find it beneficial to learn more about prenuptial agreements and whether they are right for them by seeking the counsel of an experienced Pennsylvania family law attorney.

Source: FindLaw, "How to Determine if a Prenuptial Agreement is Right for You," accessed June 24, 2015

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