The Benefits Of Marital Agreements
When two individuals prepare to join their lives together through marriage in Wisconsin, they hope that they will be together until “death do us part.” The unfortunate reality is that divorce is a common conclusion for many marriages.
At Schwei & Wendt S.C., we help couples across Waukesha County and southeastern Wisconsin be better prepared for the possibility of divorce by creating marital agreements personalized for their needs. Our attorneys will take the time to speak with you to learn about your unique circumstances. This hands-on approach helps us create a marital agreement tailored toward you and your partner’s wishes.
What Are Marital Agreements?
A marital agreement establishes the property rights and financial arrangements should the marriage end in divorce. If spouses complete the agreement while engaged, it is a premarital agreement. If they reach the agreement after their wedding, it is a postmarital agreement. These documents are also commonly known as a prenuptial agreement (prenup) and postnuptial agreement (postnup), respectively.
The misconception is that by broaching the subject of a marital agreement, you are betting on the marriage to fail. In truth, these agreements are prudent to consider, even if you have few assets or do not currently have children. By articulating rules for the division of marital property and rules for spousal support, you can mitigate the potential for conflict.
Who Should Have A Marital Agreement?
While nearly every couple can benefit from taking the time to establish a martial agreement, they tend to be especially important for couples in the following situations:
- Children from a previous marriage – Individuals who are getting married for the second or subsequent time may worry about the financial well-being of their children. A marital agreement allows you to ensure that your assets will go to your own children after your death.
- Business owners – Establishing clear guidelines can prevent a divorce from derailing your business’s short- and long-term well-being.
- Couples with significant assets – If you have accumulated retirement savings, real estate holdings and other complex investments, a marital agreement can make the complicated process of dividing these assets easier.
Additional Questions? We Can Help.
To learn more about whether a marital agreement is right for you and your partner, we invite you to schedule a free consultation in our Waukesha office with our lawyers. Please call 262-373-9742 or complete our contact form.