Joseph H. Beale Attorney At Law, PLLC

Getting married and worried about money, divorce? Get a prenup

When deciding on floral arrangements and reception locations, soon-to-be married couples often forget to ask themselves a very important question -- what if things do not work out? While it might strike some as a distinctly unromantic thought, it is an important consideration. As many as half of all marriages end in divorce, so wanting to protect personal interests is not just understandable, it is smart. This can usually be accomplished with a prenuptial agreement.

Creating a prenuptial agreement gives a couple in Virginia the opportunity to outline which property is separate. Separate property are assets that a person acquired before getting married. While this property usually remains separate even after marriage, there are times when its status may be called into question. For example, commingling assets -- mixing separate property with marital property -- can make it difficult to determine exactly what belongs to who during divorce. A prenuptial agreement clearly outlines which property is separate, making property division easier in the future.

Prenups are not all about divorce, either. Money problems are one of the leading causes of divorce, and yet many people feel reluctant to open up about finances before marriage. However, couples who create prenuptial agreements must address a number of financial topics, including bank accounts, retirement savings and debt. Having a better understanding of a financial situation can help ensure that both people are on the same page. This process can also help lay the groundwork for more open communication regarding finances.

Getting married is a serious commitment, and it is not just all about love. Many couples in Virginia overlook the legal commitment they are also making. This can lead to confusion and frustration both during marriage and divorce, so creating a prenuptial agreement can be one of the smartest steps of the wedding planning process.

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