Although it is not a pleasant thought to consider, the reality is that divorce occurs rather frequently in society. Couples in New Hampshire and elsewhere divorce at a rate of nearly 50%, which makes couples seeking to wed to seriously consider the possibility that the marriage might fail. While this is a negative thought to have even before “I do” is said, it is actually a very valuable and beneficial to discuss a prenuptial agreement.
How does a premarital agreement help with property division? Because property division is often the most contentious issues during the divorce process, a prenup often seeks to outline what property is considered marital and what will remain separate.
A premarital agreement takes some guesswork out of the equation. In other words, the divorcing spouses can avoid disputes surrounding who gets what. This does not mean the process will be free of any disagreements. Property and assets still need to be valued. Additionally, when a prenup does not address something, it will need to be sorted out, whether it is through negotiation, mediation or litigation.
Because the presumption is that the property and assets accumulated during a marriage is marital property, a premarital agreement can prove to be very valuable. This is the even when one is talking about an account that only has one person’s name or a spouse’s retirement account.
The divorce process can be complex and emotional. This can make it challenging to navigate through the process and move forward. Thus, it can beneficial to seek legal guidance, understanding how a premarital agreement could help you.