The first step is to get a lawyer to ensure that you are being treated fairly in a prenuptial agreement. If a party does not have significant assets and they are marrying the person that does have significant assets, it’s valuable for that party to have a prenuptial agreement so that he or she knows what would happen in the event of a divorce. And then they can make the decision as to whether they want to live with it.
We also use life insurance as an invaluable tool in a prenuptial agreement. If the financially empowered spouse has significant prenuptial assets that they want to leave to their children for example from their first marriage, a life insurance policy benefiting the less financially empowered spouse may be an option. But as I always say every case is different.