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Prenuptial can be essential to high-asset divorces in Missouri

It may not be surprising for residents from St. Charles, Missouri; high-asset divorces are complicated. Because each couple battles over their assets, marital property, business assets and other valuable belongings that may have been brought to the marriage, high net worth divorce are assumed to be contentious. However, the complex divorce proceedings of high-net worth couples may be prevented through a prenuptial agreement.

People with valuable assets in Missouri may find this story significant, particularly marrying couples who want financial security just in case divorce occurred. Prenuptial and postnuptial agreements may be one way to protect assets in the event of divorce. High-net worth couples consider these agreements because of their assets and property that can be subjected to property division.

There are several reasons why a prenuptial agreement is essential, not only to high-profile spouses but also to any individual. A prenuptial agreement is like divorce insurance that permits a person to protect his or her assets, especially with the increase of divorce rates nowadays. Some people devise a prenuptial in order to separate their assets from the split, as well as to avoid the costly fees in the division. This agreement may also distinguish each partner's financial rights and responsibilities during marriage. A prenuptial agreement can be a great way to avoid a spouse having to pay a debt incurred by the other spouse. More importantly, prenuptial agreement may also give a sense of security from the economic effects of divorce.

With these in mind, if a person contemplates creating a prenuptial agreement before marrying, considering the net-worth including assets and personal items is important. The net worth of these assets should amount to over $100,000. Devising a prenuptial agreement may also take time because it takes at least three months to gather all the financial information needed in the agreement. In addition, considering the divorce laws regarding property division in the state can be taken into account because each state has different divorce statutes.

Source: Fox Business, "Why You Should Consider a Prenup," Andrea Murad, Feb. 4, 2013.

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