Prenuptial Agreements For Later in Life Marriages

 Posted on April 15, 2014 in Premarital Agreement

“The Other Woman,” an upcoming Hollywood feature about infidelity, stars some of America’s most celebrated celebrities. The film’s cast includes Cameron Diaz, Leslie Mann of “This is 40” and “Knocked Up,” supermodel Kate Upton, and pop singer and rapper Nicki Minaj.

In a recent interview promoting the film and discussing its subject matter, Diaz made some controversial comments when she stated, “Everyone has been cheated on, or everyone will be cheated on.” Her remarks were taken by some to be another Hollywood denunciation of monogamous relationships. However, though Diaz has never been married and has no children, she has been involved in long-term relationships before. Now in her 40s, she says she is open to marriage. The comments also spurred discussion about changes in long-term family planning, particularly among women. Compared with past generations, many women today have chosen to start careers rather than settle down and start families. Additionally, advances in medicine have contributed to success with late pregnancies, and it is common today for women to wait until their mid 30s before thinking about having children. Ultimately, this means that many women have amassed more personal wealth and property by the time they get married. In these situations, prenuptial agreements can prove crucial. Consider Getting a Prenuptial Agreement A prenuptial agreement, or a prenup, may be the answer for people who wish to maintain their financial independence but who also want to commit to a partner in marriage. Many people already own real estate and have built significant savings by the time they decide to settle into a marriage. Others, who may be getting married for a second or third time, have now become more established in their finances, and may want to protect what they have earned. For example, when one spouse already owns a home that the new couple will move into, and that spouse wants to dedicate that home to the new family unit, an agreement could be reached where the home is to be considered marital property rather than pre-marital property. It would be divided as such in the case of a divorce. In another instance, if a spouse wants to start a business that he or she will operate independent of the other partner, then an agreement could be reached establishing the business as non-marital property. Thus, in the case of divorce, the other spouse will not be able to claim ownership. Strengthen a Prenup With Professional Legal Advice A prenuptial agreement must be in writing and signed by both parties. As with any contract, it can be voided if a court finds duress or undue influence. To ensure enforceability and to make sure you have considered all angles, it is helpful to consult with professionals who regularly deal with contracts and domestic relations. Better planning can lead to a better marriage, or a better life after marriage. Contact family attorneys at Goostree Law Group for such professional advice throughout the Chicago suburbs.