One of the biggest decisions a couple must decide on before marrying is whether or not they should get a prenuptial agreement. While nobody wants to spoil all the premarital romance, it may be a good idea to have this difficult conversation before tying the knot.

The purpose of a prenuptial agreement is to decide what each spouse's property and financial rights will be in the event that the marriage ends. It’s not an easy conversation to have, but it may be necessary in certain situations.

Why Consider a Prenup

While every couple is different, there are some good reasons for couples to talk to  a legal professional about a prenuptial agreement. Prenups are common for couples that marry later in life, particularly where each person has acquired assets prior to the marriage.

A prenup may be advisable if:

·        Either spouse has children from a previous relationship

·        One spouse has significantly higher income potential than the other

·        One spouse has significantly more assets than the other

·        One spouse has significantly more debt than the other

·        One spouse plans to support the other’s education

What Can Louisiana Prenuptial Agreements Cover?

Prenuptial agreements can address a wide variety of topics, including:

·        How to distribute property if the marriage ends

·        What property is to be considered separate and what property will be shared

·        Whether and to what extend each spouses will be responsible for the other’s debts

·        How children from previous relationships will be treated from a financial perspective

·        Disposition of family heirlooms and other types of property

·        How individual retirement assets and estate plans will be treated

What Cannot Be Covered in a Prenup

Prenuptial agreements cannot be used to predetermine certain matters. For instance, you cannot establish child custody rights or child support obligations in a prenuptial agreement. These issues are always decided by the courts based on what is in the best interests of the children.

With regard to the issue of alimony, under Louisiana law, a prenuptial agreement cannot be used to limit a spouse's right to receive spousal support in the event of divorce. Alimony payments can be ordered by a judge if he or she determines that one spouse is at an unfair economic disadvantage as a result of the divorce.

Protect Yourself and Your Future

Nobody likes to think about what will happen if a relationship ends, but it is a lot easier to discuss these issues beforehand than during the heat of a courtroom battle. Whether a prenuptial agreement is right for you and your partner is a very personal issue, but it is important to understand all the facts before deciding what is right for you and your family.  It might seem counterintuitive at first but seeking legal guidance before you get married might be a wise thing to do before walking down the aisle.