The varied uses of prenuptial agreements

Prenuptial agreements can help people in New York with estate planning, asset protection and even reputation management.

Prenuptial agreements have long been heralded for their ability to protect estates of large worth from loss during potential future divorces. While protecting assets whether liquid or otherwise remains a common use for these marital contracts today, it is by no means the only reason for which people enter into these agreements anymore.

Late-life marriages

The benefits of prenuptial agreements enjoyed by couples today extend beyond the traditional realm of protection in the face of a divorce. The New York Daily News notes that it is more common today than decades ago for people to be getting married later in life. This may be in their 40s, 50s or even later.

In these cases, significant assets may have built up, many of which people feel important to keep with their own biological children after they die. Wills, trusts and other estate planning documents can outline these wishes but so too can a prenuptial agreement, making the marital contract a nice corollary to other estate planning tools.

Reputation protection

Social media is generally thought of as a fun part of today's world. However, the reality exists for this platform to be the vehicle by which serious harm can be inflicted upon the reputation of others. As discussed by Fox News, a unique form clause is showing up in modern prenuptial agreements. The social media clause offers protection against future slander from a former spouse in the social media world.

These provisions are considered to be useful especially if one party can identify negative financial impacts related to any social posts. A loss of business linked to online comments would be one such example.

It is important to note that all social clause stipulations must be reasonably able to be adhered to. Simply attempting to ban one party from posting photos of the other online could be difficult to hold up if a photo was a standard moment from a child's birthday party, for example, in which the parent was depicted positively with the child.

A Huffington Post article reinforces the notion of reasonableness with regard to all clauses, not just those pertaining to social media. If one partner attempted to control the physical appearance of the other, such a clause could prevent the enforceability of the agreement.

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These are just some of the reasons that people today seek prenuptial agreements. Whether you are interested in protecting separate property or passing on valuable family heirlooms, such a marital contract could be helpful. Talking to an attorney is a recommended action before making this decision.

Keywords: prenuptial, agreement, contract, divorce

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