A marriage is usually a long-term commitment and one that requires thorough planning, long before you say, “I do.” However, many couples become swept away by the romance and excitement of the wedding and forget the details that can come to play further down the road.
Entering into a prenuptial agreement is one way to provide spouses with protection in the future. Whether you’re getting married for the first or second time, a prenuptial agreement allows you and your partner to set strict boundaries.
The benefits of a prenuptial agreement
A prenuptial agreement (commonly known as a “prenup”) is a legal contract signed before a marriage that allows spouses to control personal assets in the event of a divorce. Prenups have become more popular among newlyweds in the past few years as they provide a level of protection that spouses crave.
Prenuptial agreements offer couples with many advantages, including:
- Protecting the inheritances of children from a previous marriage.
- Protecting your business from property division during a divorce.
- Allowing you to document and protect your separate property.
- Reducing conflicts during a divorce.
- Allowing you to assign any debt to the proper spouse and avoid shared debt liability.
- Limiting the amount of spousal support one spouse will have to pay to the other.
- Avoiding lengthy court time during a divorce.
The benefits of a prenup can give you peace of mind as you enter a new marriage. You will feel assured that if your relationship goes south, that you will be able to get through a divorce without too much trouble.
Prenuptial agreements are not for everyone, but they can be extremely useful. If you’re considering a prenup for your marriage, you may want to consult with an experienced family law attorney who can help you through the process and secure a better future.