Before two people get married, they have the opportunity to make a prenuptial agreement. A prenup is a kind of legal agreement that people make to help define a relationship and establish what the risk of divorce would mean. Prenups are often used to protect assets and ensure a spouse regains their ownership of property after a divorce.
It can be scary for many people to sign a prenup. The terms of a prenup may seem daunting and it may make a soon-to-be-spouse fear the terms they are agreeing to are unfair.
Before marriage, couples often have plenty of time to review the terms of a prenup. If a spouse is unhappy with the conditions of this legal document, they may consider making changes.
There’s always time to renegotiate before the marriage begins
The terms of a prenup can be altered at any time before a marriage. There are a few reasons someone would need to alter their prenup.
For example, a spouse may have had a major change in their financial situation. They may have won the lottery, inherited a large sum of money, suffered from unemployment or developed a gambling addiction. These changes may lead their soon-to-be-spouse to reconsider what they are agreeing to in a prenup and how assets and debts are divided in a divorce.
The discovery of a child or the conception or adoption of a child may also cause a couple to renegotiate the terms of a prenup. A parent who already has a child before going into marriage may even want to alter a prenup so that a child retains a part of their estate should they die before their new spouse.
A spouse who has a business or started one before marriage may also want to consider adjusting a prenup. The new prenup may include the business and ensure it’s protected from a divorce.
Prenups are no longer uncommon, but it’s important to go into the process with your eyes open and your heart in a good place. If the terms of a prenup are unfavorable, the court may not recognize its authenticity. Legal help when making a prenuptial agreement can be invaluable.