Marriage is more than an intimate agreement between two people—it's a legal contract. In Idaho, that means the assets you gain during your marriage are considered community property and subject to division between you and your spouse. The unfortunate reality of marriage is that your romance could sour, which could have devastating consequences for one or all parties.
Drafting a prenuptial agreement, or “premarital agreement,” should not be taken as a lack of faith before reciting your vows. There are many reasons to establish one for your marriage, such as one of you having children from a previous marriage, being initially wealthier than your spouse, or supporting the other through college. Other reasons include a spouse owning a business, expecting an inheritance, or having assets such as a home, stocks, and a retirement fund.
The Law Firm of Derek A. Pica agrees love is a beautiful thing, but a prenuptial agreement protects that love by securing financial assets. With Derek’s help in drafting a prenup, your focus can return to the intimate factors that led you down the aisle in the first place. Should your love grow cold, the agreement he draws up for you will ensure a fair divorce with terms to which both parties already agreed. Divorces happen every day, costing some people the hard-earned money and assets they accrued during their marriages. In other cases, the end of a marriage could shatter a business with the swipe of a pen, costing other families their incomes.
As divorces are emotionally distressing, petty claims could be placed on your property out of spite by a jilted spouse, and the process could drag on for years. Through the forethought of writing a prenuptial agreement, you save yourself the agony of your personal life being paraded through a court of law. This process can only reinforce your marriage by outlining the terms and conditions of a life-long contract.
If you have not weighed your assets before saying “I do,” speak with an attorney to understand your rights. Protect your financial outlook while allowing your love to flourish. Call Derek A. Pica to set up a consultation.