Real estate is easily the biggest investment in anyone’s lifetime, and many couples purchase property with the intention of living in it together for years to come. When divorce is suddenly and unexpectedly on the table, many people find themselves stumped. What should happen with the home, and what steps can they take to ensure that their share of the investment remains protected?
While our clients don’t exactly enjoy their divorce proceedings, the process of asset division is often the biggest headache for most people. Nobody wants to end up on the short end of the stick, but without a prenuptial agreement in place, most property will simply be divided between both parties.
Prenuptial agreements have a bad reputation with many. People see these agreements as back-up plans for those who are not ready for marriage, or as a cop-out for giving up versus putting in the work towards a successful marriage. Others see it as a way for one person to take advantage of or cheat the other person out of a fair divorce settlement.