In the state of Alabama, and all across the nation, the youngest of the Baby Boomers are slated to turn 50 this year. According to a recent poll, 40 percent of 2014’s newlyweds have also been involved in previous marriages. A prenuptial agreement is often used in these circumstances in order to prevent future discord and squabbles. A recent report gave advice to those born between 1946 and 1964. Due to the fact that the human life expectancy has risen, the report suggested that those approaching retirement should begin early to prepare for the long-term reality of their Golden Years. Financial suggestions of saving more and spending less were included in the report. Another tip given to readers stated that it is better to “loan” your children money, rather than “gifting” it to them. This way, if your children end up in divorce settlements, your money will be protected. Circumstances … Continue reading Prenuptial agreement can alleviate Baby Boomer stress
Monthly Archives: December 2014
Prenuptial agreement can be beneficial for Alabama couple
Prior to saying “I do,” many modern couples are now signing prenuptial agreements. This is because couples are now realizing that a prenuptial agreement can help them avoid confrontation in the future. For Alabama couples who are heading toward the altar, a prenuptial agreement deserves serious consideration. Prenuptial agreements can be beneficial for many different reasons. One of those reasons is an inheritance. Having a prenuptial agreement in place is often reassuring to generous family members, such as grandparents, who may be concerned about the prospect of their assets being handed to an in-law in the event of a divorce. In addition, prenuptial agreements can help to soften the blow that a divorce could potentially deliver, since assets can increase and decrease throughout a marriage. This is especially true as financial success, incomes and bankruptcy are often completely unpredictable. For this reason, it is wide to avoid dollar-amount promises, instead one could … Continue reading Prenuptial agreement can be beneficial for Alabama couple →
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A prenuptial agreement can help avoid court battles over pets
Prenups are becoming more common for newly engaged couples that wish to safeguard the assets they are bringing into the marriage and to provide for the division of marital assets if the couple ends up getting a divorce. A prenuptial agreement could potentially eliminate the need for Alabama couples to spend a significant amount of time and money in the courts if their marriage ends. Many people are also beginning to use prenups to deal with one other item that the law considers property — the family pet. People can spend thousands of dollars attempting to gain “custody” of the family pet, which can be problematic due to the fact that only Alabama’s property division laws apply in the courtroom. Who receives the family pet in a divorce is not argued or decided in the same manner as child custody issues. Who is the most fit to take care of the … Continue reading A prenuptial agreement can help avoid court battles over pets →
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