Most individuals believe that when a prenuptial agreement exists, a divorce case should move along smoothly. For some, that might be true, but that was hardly the case for Kim Kardashian and Kris Humphries. According to the New York Daily News, the ex-couple has been dealing with divorce issues since October of 2011. Apparently, Kardashian wanted a divorce based on their prenuptial agreement; however, Humphries wanted to have the marriage annulled on the basis of fraud.
Prenuptial agreements can actually prove to be advantageous for many individuals regardless of wealth. It is a practical step to take prior to going down the aisle. Although some may not view is at the most romantic thing in a relationship, prenuptial agreements can give couples the chance to talk about important issues before problems arise in the marriage.
What is a prenuptial agreement?
A prenuptial agreement is essentially a contract that two individuals enter into prior to marriage. In the same way that business partners would have a discussion about critical issues prior to starting a business, the same should be the case for couples who are considering marriage. Many couples simply have a conversation before the big day; however, some couples elect to put their decisions and thoughts in writing.
Some of the more common topics that couples might choose to put in an agreement include:
- The household budget and finances
- What will happen in the event of the death of the parties
- Asset distribution in the event of a divorce
- The safeguarding of each party’s own separate assets
Prenuptial agreements can work to avoid a great deal of debate if something happens to the relationship, and having one in place should be a consideration for anyone contemplating marriage.
The timing of a prenuptial agreement
Prenuptial agreements are entered into before a marriage. However, they should not be made at the last minute. Individuals should bear in mind that they will need time to discuss issues fully and negotiate as needed.
Each party may also want to consider hiring his or her own attorney to make certain that everything is clearly explained with regard to the agreement. Doing so will further ensure that each person’s rights are protected.
In life, there are no guarantees; however, working out tough issues ahead of a marital breakdown can give both parties a certain level of confidence with regard to how various marital issues will be handled. Couples who are interested in learning more about a prenuptial agreement should speak with a well-versed attorney who can explain how having one might work based on their particular circumstances.