While no one plans on getting a divorce, having a prenuptial agreement can prepare Ohio residents for life after marriage. One of the best reasons to have a prenuptial agreement is that it can expedite the process of officially dissolving a marriage. This is because it will already list which assets are marital property and which are separate property. Generally speaking, inheritances and gifts received during a marriage are considered separate property.
Individuals can also use a prenuptial agreement to retain full ownership of any companies that they created before a wedding took place. Those who are planning on staying home to raise a child or otherwise dropping out of the workforce to support their spouses may also benefit from such an agreement. It may be possible to add language to a prenuptial pact that allows a person who stays home to be compensated in the event that the relationship ends.
In some cases, joint debts may be divided in a divorce settlement. The terms of a prenuptial agreement can determine who is responsible for any debts that were brought into the relationship or accrued during the marriage. Individuals who have children from a previous marriage may want to use a prenuptial agreement to protect their inheritances. The agreement can stipulate how assets are to be divided in the event that a parent passes away.
Individuals who need help with issues related to divorce or other family law issues may want to hire an attorney. An attorney may help a person create a prenuptial agreement or review any agreement that already exists to determine if its terms are enforceable. Legal professionals may also answer any questions that a person has about the criteria used to create child support or custody orders.