We got Engaged! Do I need a prenup?

First, congratulations on your engagement! After my husband proposed, I remember well-meaning family and friends immediately asking if we had set the date, where the ceremony would take place, who would be in the wedding party, etc. Some (nosy) people even asked if I planned on entering into a prenuptial agreement! While I can’t help you figure out if you’re a spring or winter bride/groom, or if you should have a bachelor/ette party in Las Vegas or Miami, I can provide some insight on whether a prenuptial agreement (or “prenup”) is right for you.

Of course, getting married is first and foremost about committing your life to someone you love. But it is also a legal relationship, much like a business partnership. So it might be helpful to think of a prenuptial agreement as insurance for your marriage—you hope you won’t need it, but if you do, you and your family will be very happy to have it.

There are 5 main reasons you may want to consider a prenuptial agreement. If you or your partner:

1. Owns a business

2. Has substantial debt (e.g. student loan debt)

3. Has children from a previous relationship

4. Has healthy retirement or investments accounts

5. Already owns a home

Keep in mind that a prenuptial agreement cannot address child custody or child support. But it can save you significant time and money because a good prenuptial agreement should address all other issues that you would otherwise have to litigate in a divorce. Some of those issues are alimony (or waiver of alimony), premarital asset protection, and marital versus separate property classification.

So while a prenuptial agreement is not the most romantic part of planning your wedding, thinking about one should definitely be on your wedding planning to-do list (somewhere between selecting your photographer and choosing your signature cocktail).

If you are already married and regret not getting a prenuptial agreement, a postnuptial agreement is just as effective and operates almost identically to a prenuptial agreement.

Lennon, Giovinazzo & Steele Family Law attorneys have the knowledge and experience to help with any family law issues. Contact us at 404.726.8501 or visit our website at www.lgsfamilylaw.com to schedule a Zoom or in-person consultation.