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Consider the following before signing prenuptial agreements

Are you about to be married? Has your soon-to-be spouse asked you to consider a prenup? Before you go forward with any plans to sign one, you should consider the following potential downsides of prenuptial agreements. You probably already know of the advantages you may receive from such an agreement in the event of a Louisiana divorce, but you need to be equally aware of the disadvantages.

Your love for your intended spouse could prevent you from protecting your own interests. You may give up your right to claim at least a portion of an asset that would otherwise be considered marital property in a divorce. For example, if the other party owns a business and you give up any claim to it, any increase in its value during the marriage could be lost to you.

By entering into a prenup, you are gambling on the future. No one knows what issues may come up later in your marriage that could substantially impact a divorce. If you do not have the same earning capacity as your spouse, you could end up at a significant disadvantage if the marriage ends. For example, if you agree to limit the amount of spousal support to which you may be entitled, you could regret it later.

This is why most Louisiana family law attorneys would recommend that you consult with an attorney prior to signing any such agreement. Prenuptial agreements can provide each party with significant benefits, but if you are not careful, the cons could outweigh the pros. If you agree to negotiate a prenup, be sure that there is enough time before the wedding to make sure that your rights are protected and that the agreement will not put you at a disadvantage in the event of a divorce.

Source: FindLaw, “Pros and Cons: Premarital Agreements (“Prenuptials”)“, Accessed on May 28, 2017

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