The true purpose of the existence of a prenuptial agreement is to reduce the number of disputes and battles that naturally occur in the divorce process. The reason that a dispute even arises is because of the division of property laws that most states have in place, allowing for former spouses to assert an interest in an estate or asset.
These agreements are often utilized by spouses who are going into the marriage with wealth and assets obtained prior to the marriage and are trying to protect their interests if they decide to end their marriage later on. Or, this person has knowledge, prior to the marriage, of wealth that they will be coming into during the marriage and would like to take pre-meditative steps to protecting them. Of course, both parties must be willing participants, as this is an agreement. Even if an individual wanted to protect an asset from being disputed, it does not mean that their soon to be spouse is interested in signing any legal document that even hints at the possibility of a divorce. As strenuous as that can be, this is a reality that many have to face, and while in the process of divorce, the long and often costly legal battles are an example of why planning for the future can save you a fortune down the road.
Preserving family assets, and being able to pass them down to future generations, has been a common utilization of prenuptial agreements. Estates, like a family ranch, are highly valuable monetarily, as well as symbolically and spiritually. Heirlooms and other assets are often sought after in divorces by the non-related spouse, claiming some kind of interest in it as a result of the relationship and marriage. And in some cases, the court has given away family assets to former spouses as opposed to their direct children, due to interpretation and application of state laws, coinciding with a lack of a will or directive legal document that would instruct for a different division.
When it comes to protecting your family’s wealth, and keeping it in the family, a prenuptial agreement can provide security in knowing that, whether in death or in divorce, the family asset will be kept in its rightful place, and away from any possible dispute litigation.