Prenuptial agreements aren’t just for the rich and famous. Lots of new couples are sealing the marital deal with legal asset protection, better known as a prenup. If you’ll be heading down the aisle soon perhaps you should consider the benefits of a prenuptial agreement. No one wants to insinuate that your betrothed won’t be there forever. But in today’s world a little legal protection can protect you from a world of hurt. We’ve lined up 8 benefits of a prenuptial agreement for your review. After reading you might see a prenup agreement in a different light.
Think, Insurance
While some say the prenup agreement is nothing more than legal advocacy for divorce, it’s just not true. No court will uphold a document that’s used to promote divorce. A prenuptial agreement does many things, for both parties. It’s like an insurance policy for the married. If you or your spouse dies or if you do get a divorce, you’ll have documentation in place that no one can contest. A will does cover some of the death benefits but a prenup agreement can only help solidify your or your spouse’s claim of support.
Protects Your Properties
A prenup can protect your ownership rights concerning properties you owned before the marriage. The prenup states that in case of death or divorce you get to keep your original properties without having to sell them or give them to someone else.
Provides for Your Spouse
If you were to die suddenly you’d want your spouse protected financially. Previous wives, husbands or relationship partners might try to make a claim on your assets without this legal protection. Protect your spouse’s future with a prenup.
Establish Properties
In this case you both enter into marriage with separate properties. A prenup agreement could guarantee the two of you would maintain those properties in the event of divorce. Inheritances, real estate, wealth can all be protected by establishing legal dividing lines in cause of future trouble.
Establish Separate Debt
Chances are this may not be the first marriage for one or both of you. Some enter into marriage with considerable debt. Or accumulate it during the course of the marriage. Legally, while you are with your spouse you are responsible for half of the debt. But what about after? A prenuptial agreement can keep the debt separate in case of divorce. Who wants to pay for an angry spouse’s shopping spree? Take that into consideration while thinking about a prenup.
Protect the Legacy of Your Children
You can protect the financial rights of your children with a prenup. Children you shared in the marriage or children from a previous marriage would benefit from this. Make a portion of your financial estate hands off to anyone, including your would be spouse. No one likes to think things could go south, but they can. Protect your children’s legacy by insisting on a prenup.
Create Guidelines
A prenup will create some guidelines for division of future earnings. You probably will prosper as a couple and hopefully be successful at accumulating wealth. How do you divide that up if you divorce? Think ahead of time on what the guidelines would be for estate division. Thinking ahead can save you from financial destruction later.
Peace of Mind
For some folks, a prenuptial agreement brings peace of mind. Perhaps they have been married before and been burned? Or this is their first marriage and they have considerable wealth to protect. Give yourself peace of mind by both of you agreeing to a prenuptial agreement.
