High net worth families often encourage adult children to have a prenuptial agreement created before they marry in an effort to protect interests in family businesses, future gifts and other family assets. For couples contemplating a second marriage who have significant assets, or if there is a large gap between the asset levels or ages of the parties, a prenuptial agreement is also a wise consideration.
A prenuptial agreement should be thought of as part of planning for the financial relationship that is part of every marriage. Our experience in drafting prenuptial agreements includes many years of helping couples learn more about each other and understand each other’s approaches to money and values through the process. If the marriage fails, which is an unfortunate event and one that no one likes to think of while preparing for a wedding, a prenuptial agreement can make the division of assets and the dissolution of the marriage easier and swifter.
Both prenuptial and post nuptial agreements are especially important when one or both spouses have children from a prior marriage.
A postnuptial agreement is similar to a prenuptial agreement, except that it is created after a couple has become legally married.