When you get engaged, you are not thinking about a divorce. This means you are not considering who gets what property you both bring into your marriage.
This is a mistake. You do not know what will happen once you are married and sharing a home. Things happen.
Prenuptial agreements establish property rights terms
A prenuptial agreement, sometimes called a prenup, is an agreement to divide property should you and your spouse divorce. These legal agreements are for anyone who is getting ready to marry — even though a divorce is not even a consideration.
You and your spouse both bring property, money and possibly some assets into your marriage. You should protect what is yours, both before and after your wedding.
How can a prenuptial agreement help me?
Prenuptial agreements protect both you and your spouse. They protect you from being forced to take on your spouse’s debts. They tell you and your spouse what your rights and responsibilities are in your finances.
Prenuptial agreements do not help just the wealthy. No matter the value of your property, this legal agreement protects you and your spouse in a divorce. A prenup can also protect you if you or your spouse pass away.
A prenuptial agreement can protect your property rights in a divorce
You want to avoid a drawn-out argument over your assets, money or property in a divorce. This costs money. Learning how you can protect yourself during a divorce can help you.
Pennsylvania is not a community property state. This means that, if you and your spouse do not have a prenuptial agreement, the state will decide how your property will be divided if you are unable to do so.