Readers from Phoenix, Arizona, may know that divorce greatly affects the lives of the people involved. However, the impact of divorce to couples' lives is likely to be less complicated if they have signed a prenuptial agreement prior to their marriage. Signing prenuptial agreements before marriage serves as a back-up plan in case of divorce. Many people use these agreements to protect their property, assets and pets in the event of a divorce.
A person may have something very dear to them that they may not want to lose. Through a prenuptial agreement, the person may ensure that even if divorce does occur, it would not affect their ownership. For instance, Miley Cyrus recently stated that she does not want to lose her dogs in the event that she and her fiancé divorce.
According to reports, she has several dogs that she is very attached to. Since she does not want to part with them in case of a divorce, she has been considering a prenuptial agreement. It has also been stated that she wants to protect her $130 million assets along with her ownership of the dogs, so any prenuptial agreement between the two would presumably cover her assets as well.
In a prenuptial agreement, the couples will set forth whether they want to retain their premarital property as sole and separate property. The couple also may want to keep the property earned after marriage as separate property or it could be viewed by a court as marital property to which they are both entitled. Drafting a prenuptial agreement may ensure that property division issues do not add to the complexities of divorce.
Couples may sign a prenuptial agreement before the marriage or a post-nuptial agreement, although prenuptial agreements are preferable. These agreements should be written under strict guidelines to ensure that they are enforceable under law and that they do not later result in litigation.
Source: AZ Central, "Miley Cyrus, Liam Hemsworth have pre-nup for dogs" Nov. 29, 2012