How to Determine When a Prenup is Needed

Prior to marriage, there are times when a prenuptial agreement should be looked at as an option. A prenuptial agreement is a contract in which each party in a marriage agrees upon before getting married. The contract can consist of many items, however it's usually about the division of assets in case of a divorce. Determining when a prenup is needed can be accomplished in a few steps.

Instructions

Difficulty: Moderate

1. Figure out whether you have enough time to obtain a prenup. In some states, prenups can be voided if it was signed within one month of the marriage date. If that's the case in your state, you'll need to start the process at least a couple months before your wedding date.
2. Assess if you have enough assets that a prenup is worth the time, money and possible resistance from your fiancée. If you don't have savings, investments or other financial assets, a prenup isn't worth it.
3. Determine if you have the financial means to afford to get a prenup. To draw up and file a prenup usually costs between $2,000 and $20,000. If you don't have that type of money available to use on a prenup, then you are probably better off without one.
4. Locate a lawyer in your area that deals with prenup agreements. The easiest way to find a local lawyer is to look in your yellow pages or to go to the FindLaw website. There are lawyers who deal strictly with marriage related aspects of the law.
5. Discuss with a lawyer your thoughts on obtaining a prenup. Your lawyer will ask you questions about your financial situation, as well as that of your partner, so be prepared with documentation to answer those questions. Sometimes, a lawyer will tell you that a prenup isn't needed and that state or federal laws should be enough.