Kristopher K. Greenwood & Associates
Salt Lake City – Ogden
Kristopher K. Greenwood & Associates

Salt Lake City – Ogden

We Fight To Win

Experienced Divorce and Family Law Attorneys Serving All of Utah

A prenup lets couples take care of asset division in advance

On Behalf of | Apr 29, 2016 | Divorce

No Utah couple gets engaged to be married believing the marriage will end in divorce, but that does not mean that the parties cannot be prepared for the eventuality by negotiating and executing a prenuptial agreement. Asset division is often the most contentious part of any divorce proceeding. Taking care of this part of the process ahead of time will save the parties both time and money if they later decide to divorce.

Nearly every Utah couple could benefit from a prenuptial agreement, but there are some circumstances under which a prenup could be considered a necessity. People who have children from prior relationships might wish to ensure that assets are set aside for them in the event of their own demise. Anyone who owns a business, or has interests in one or more businesses, would benefit from a prenup to ensure that those interests remain with the business. If a party is expecting to receive an inheritance, those assets can be protected as well.

Furthermore, each party can identify and quantify any separate assets brought to the marriage, such as retirement accounts or other assets that are to be considered separate property, in the event of a divorce. Debts can be identified the same way. The parties can also determine who will receive which marital assets and decide whether either party can request spousal support.

Making as many decisions ahead of time as possible can relieve at least some of the pressure that accompanies a divorce. Some people compare having a prenup to having an insurance policy — most people hope to never need either. However, as long as the asset division in a prenuptial agreement does not put one of the parties at a disadvantage and it is executed in accordance with current laws, it could greatly simplify divorce proceedings should the marriage end.


FindLaw Network