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Divorce issues: Is getting a prenup the right thing to do?

Most couples planning a wedding in Iowa or in other parts of the country are focused on choosing their venues, selecting menu options for their receptions or deciding where to go on their honeymoons. They are likely not thinking about what may happen down the road if they decide to get a divorce one day. However, marital experts suggest that discussing how to handle things in the event of a split before getting married can be a wise move. In fact, many recommend that couples develop prenuptial agreements before their wedding days.

The nation's Academy of Matrimonial Lawyers have reported a recent increase in prenups over the last few years. Millennials, in particular, are requesting the agreements more frequently. Some attribute the increase to the fact that more couples are older when they marry, and therefore bring more wealth or individual assets to the marriage.

While prenups used to be viewed as only beneficial to the wealthy, income level is not always the driver. An individual may have an established business he or she would like to keep separate. Someone may have property or another inheritance that needs to remain with an individual's family. Some pros and cons are worth considering in determining whether or not a prenuptial agreement is warranted.

A prenup is not only desirable to have when dividing assets. It can also address the issue of debt and ensure that the responsibility for it stays with the spouse who incurred it. Another positive aspect of a prenup is that it forces an open, honest discussion about the couple's finances. Conversely, if not handled properly, some may be offended that the issue of a prenup is even mentioned at all. It is also imperative that both parties are represented in the development of an agreement so that no one is treated unfairly.

An Iowa divorce lawyer can help someone with the creation of a prenuptial agreement prior to marriage. If a couple is already married, a postnuptial agreement can address similar issues of property division. An experienced attorney will help clients with agreements such as these or with any other steps throughout the divorce process.

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