WATCH: Who needs a premarital agreement in Indiana?

Who needs a premarital agreement in Indiana? Is it only for the very wealthy?

Indiana family lawyer Melissa J. Avery answers.

A common misconception is that only the very wealthy can benefit from a prenuptial agreement. Actually, a prenuptial agreement can be a valuable planning tool for any couple wanting to add certainty to their financial future and for those who agree they would want to do things a little differently than state statutes provides if their marriage were to end. Prenuptial agreements are quite common in second marriages where one or both parties wish to protect assets to pass to their children from previous relationships.

Parties owning an interest in a family business or a business they have devoted significant time and resources to prior to the marriage may find a prenuptial agreement useful. Similarly, couples bringing significant assets or debt into the marriage may wish to plan for how it would be divided in the event of a dissolution. Every couple should consider their financial future prior to marriage and determine whether a prenuptial agreement is right for them.

Melissa J. Avery is a family lawyer in Indiana www.bkrfamilylaw.com