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Planning a wedding is an exciting time in a bride and groom’s life, with countless decisions to make, from the invitations and the flowers to the guest list. But one decision that legal experts at Calabrese Budner recommend before walking down the aisle is solidifying a prenuptial agreement.
“You’ve worked hard to get where you are in life, and it makes sense to work with a legal team that works just as hard to protect what you’ve achieved,” says Carla Calabrese of Calabrese Budner. As you embark on a marriage, the law makes some assumptions that may not fit your situation. But with the help of a knowledgeable, well-versed legal expert, you can control the situation with a carefully crafted prenuptial agreement.
Where to Start
While the agreement will protect your assets if you divorce (or when you pass away), the process of creating a prenuptial agreement also strengthens your marriage.
“To create a prenuptial agreement properly, both partners spend time discussing their financial situations, their attitudes about spending and investing, and a host of other issues couples often avoid until it’s too late,” Calabrese says. “You both come away from the process with a new understanding that provides a solid basis for the relationship.”
Perhaps the most daunting aspect of a prenup is where to start. Calabrese Budner says the first process is for each party to choose an attorney. Once that attorney is chosen, learn the law. Yes, you’ll rely on your attorney’s expert knowledge, but take this moment to know and understand the law and how the prenup is benefiting and protecting both parties. Knowing how the law will impact you, should divorce happen, will set you up for success in the initial stages of drafting the prenup.
Asset and Debt Protection
A prenup can protect assets that each party brings into the marriage, as well as any assets acquired during the marriage. This can include businesses, real estate, investments, and other valuable assets. A prenup can also address how debts will be divided in the case of divorce, protecting each party from assuming the other’s debts. Having a knowledge base with everything out on the table in the beginning will only make the process smoother.
This is also the time in the prenup process to identify any business interests or family heirlooms that need to be protected. Knowing what’s off limits, as it’s clear and concise in a prenup, can save both parties from uncertainty and headaches.
Peace of Mind
The team at Calabrese Budner says that their clients who engage in a prenup walk away with peace of mind and clarity. A prenup can establish clear expectations and rules for how financial matters will be handled if divorce plays out, reducing the potential for confusion and conflict down the line. Understanding the law here is crucial, too, to avoid hurt feelings.
Cost-Effective Down the Road
Although divorce is not the primary goal when entering a marriage, we all know that divorce rates are staggering and oftentimes a reality. If a couple ends up divorcing, a prenup can save both parties time and money by establishing clear rules ahead of time and avoiding costly litigation. If everything is outlined up front, and all parties understand and are in alignment, this can make the divorce process incredibly streamlined.
Overall, a prenup can provide couples with financial security, protect individual assets, and reduce the potential for conflict in the event of a divorce. It’s important to consult with an attorney to ensure that the prenup is legally valid and enforceable.
The Calabrese Budner team has decades of experience creating prenuptial agreements that preserve property arrangements, family legacies, business interests, inheritances, and specialized assets that can be negatively impacted by marriage. Their knowledge and meticulous attention to detail ensure that the agreements they develop are built to prevent or withstand any legal challenges.
To learn more about Calabrese Budner and their expertise, visit calabresebudner.com.