Although prenuptial agreements are becoming more common, many people still think that unless they have significant assets going into a marriage, they don't need one. That's why we want to discuss a few scenarios where those who don't have a lot of money when they wed should get a prenup to protect themselves and others when the marriage ends in death or divorce (and, face it, those are the only two options).
If a person has or plans to start a business, it's wise to get a prenup if you don't want part of the value of that business to go to your spouse in a divorce. Even if your spouse had no participation in the business and did nothing to contribute to its growth, he or she could be awarded part of its value if you break up.
If you stand to inherit a significant amount of money and/or property from your parents or other family members when they die, a prenup can codify the fact that those assets will be yours alone. Your family law attorney will provide guidance on how to ensure that you don't commingle any funds from your inheritance with your spouse's assets.
If you have children from a previous marriage or relationship and you want to ensure that they receive assets upon your death, you need to codify that in a prenuptial agreement and in your estate planning documents. Many legal battles have been fought between stepparents and stepchildren after someone has died.
If you are preparing to get married, it's worthwhile to consult a family law attorney to determine if you would benefit from a prenuptial agreement.
Source: Forbes, "Those Who Are Most In Need Of A Prenup May Surprise You," Alyssa Rower, Esq., Jan. 28, 2018