Prenuptial agreements are a smart way for a couple to protect and preserve their assets and should be seriously considered if:
- either party has children from a prior relationship
- this is a second marriage
- a family business is held by one spouse or a business interest may be obtained during the marriage
- there are substantial assets held by one or both spouses prior to the date of marriage
- a significant inheritance may be received during the marriage
- there is concern about debt accumulation during the marriage
Prenuptial agreements can be used to protect very specific assets from being divided in the event of divorce. This is often of particular concern when one spouse has an interest in a family-owned business.
Prenuptial agreements can also be used to define how property and income will be divided in the event of separation or divorce and the terms will override Pennsylvania law.