Many North Carolina residents consider writing a prenuptial agreement before entering into a marriage. Typically, prenups are used to protect the assets of the higher-earning spouse when there is a large discrepancy between the incomes of two spouses. However, prenups do not have to be completely one-sided, and they can be used to protect the financial security of both spouses in the event of a divorce.
Prenups that are written on behalf of a higher-earning spouse will often include provisions that could potentially leave the lower-earning spouse in a poor economic condition if the marriage dissolves. For example, a prenup that says all money earned from employment is the sole property of the earner could be unfair to a stay-at-home mother or father. A prenup that bans alimony regardless of the circumstances could be devastating to the lower-earning spouse if they are disabled when the marriage ends.
A prenuptial agreement can be negotiated before it is signed so that both spouses feel good about it and the document does not have a negative effect on the marriage. If a lower-earning spouse understands that a prenup will not leave them out in the cold without any financial security, they may feel better about signing it.
A family law attorney may be able to help a couple to negotiate a reasonable agreement about the division of the marital estate before they get married. Prenups are often used to protect a business that is jointly owned by the higher-earning spouse and other people outside of their family. An attorney may be able to help create a document that protects the higher-earning spouse’s assets while also considering the financial needs of the lower-earning spouse.