Why You Should Conduct and Asset Search Before You Sign a Prenuptial Agreement
Are you getting married? Maybe you are considering signing a prenuptial agreement because your future spouse or their family has asked you to? Does your spouse have business assets or liabilities? Sometimes this can be a blindsiding event or an afterthought.
Suppose you find yourself marrying into a family with a reasonable amount of wealth, chances are the Groom or Bride will ask you to sign a prenuptial agreement. Before signing an agreement, it would behoove you to look before you leap.
A prenuptial agreement does not feel particularly romantic but often is a part of this type of marriage. It is important for you to do your due diligence prior to signing to protect yourself financially and to aid you with the full disclosure of assets.
Many times, these types of prenuptial agreements cover what happens in the event of a dissolution or breakdown of the marriage. The agreements are designed to protect income from trusts or inheritances or income that was created before the marriage.
Like any other contract, a prenuptial agreement involves negotiating and satisfying the needs of both parties. It may not occur to you to do an asset search, but it is always better to negotiate from a position of full disclosure so that the agreement is deemed “fair and reasonable” by the court someday if the agreement was ever contested. Fair and reasonable does not necessarily mean equal. But full financial disclosure is always required.
It might be prudent to order an asset search to uncover any assets that may not have been disclosed, either intentionally or inadvertently. An innocent omission may be a very costly thing as those assets may not be protected. They can also help in identifying entities or businesses associated with your future spouse that could be holding assets as well… such as through corporations, partnerships, and trusts.
Chances are you will not find any major surprises, but it will provide you with more disclosure on yourself and your future spouse.
If you are getting married and signing a prenuptial agreement and you would like for us to conduct an asset search, then please contact us today. And it goes without saying, that if your marriage is dissolving, conducting an asset search is your first step.
You can order an “Individual Asset Search” by visiting our site at www.assetsearchesplus.com or by calling us at 1(800)290-1012. We can also be reached by email at email@example.com . The turnaround time is usually less than 2 days and the cost is only $ 185 for a nationwide search.