When to Consider a Pre-Nup

For couples marrying later in life and those with many assets or potential inheritance a pre-nuptial agreement is certainly something that should be considered. The agreement is a legal and binding contract which comes into play in the event of death or divorce and stipulates what each party brings into the marriage (or expects to) and how assets are to be divided in the event it becomes necessary to do so. Many also clarify division of assets accumulated while married, such as in the situation of one spouse who puts the other through school being beneficiary of a portion of the benefits of that education. This article should not be considered legal advice! Please contact a financial planner or attorney for professional advice.