Divorces can be devastating for all parties involved. Not only are people legally ending their marriage, they are probably experiencing a number of emotions they may not have had to deal with before. Along with possibly feeling hurt and disappointed about the marriage not working out, spouses may also feel a bit angered and upset at the fact that they have to deal with several divorce legal matters before things are finalized. This is common when a couple is going through a high asset divorce.
Business owners and others who have significant property and assets have often had to deal with the issue of property division, which is why they have chosen to get a prenuptial agreement because of the protection they offer. With this type of agreement outlining how property and assets will be divided during a divorce, it is almost impossible for your spouse to have access to an item that they have agreed is not theirs when they signed the prenup. With this being one of the main benefits, it could be good for you if you have property you are concerned about losing.
Prenuptial agreements can save people time and stress when they are divorcing. However, not everyone makes the decision to get one and are left dealing with the messiness and heated disputes over property division that are often associated with high asset divorces. In the end, if they cannot agree, it will come down to the judge deciding for them and depending on the laws of the state, neither spouse may get what they feel they deserve.
When people have worked hard for the things they have, they may not want to risk having to divide or share their assets with their spouse, especially if the two are divorcing. The state laws may help establish what type of property is considered marital and separate, but in some cases, things can get tricky. Anyone who is considering divorcing their spouse may want to speak to an attorney at the Law Office of Michael D. Tracton, as they may be able to help with the divorce process and keep your property and assets safe from being divided with your spouse.