When most Ohio couples get engaged, they feel confident that their relationship will last forever. They are usually focused on the excitement surrounding their romantic engagement. Unfortunately, many marriages end in divorce. Couples need to discuss financial matters to ensure that they agree on issues that could arise during the marriage or if an divorce occurs.
A prenup can prevent lot of frustration in the event of a divorce. It is a legally binding contract that each party will sign before the wedding date. It will address the way that assets and liabilities will be divided if they decide to divorce in the future. This prevents a judge from determining the best way to divide up the assets. This document allows a couple the opportunity to put a customized agreement into place.
While a person may feel uncomfortable discussing a prenuptial agreement and future divorce, it is necessary. Having the conversation and drawing up the document sets expectations for both parties as to the kind of financial partnership they intend to share. Even if a couple decides that they will not sign a prenuptial agreement, they should have conversations about how their finances will be managed after marriage and who will be entitled to what.
If a couple who has a prenuptial agreement in place decides to get a divorce, the court will likely evaluate the enforceability of the prenup. One factor they may look at is when the contract was executed. This shows the importance of sorting through financial matters and designing a prenuptial agreement well before the wedding day. A lawyer might assist a couple by helping them to draw up this document. They may answer questions about property division, spousal support, alimony and other matters that relate to finances and divorce.