If you’re considering marrying your partner and want to be sure you’re making the best decision possible, you might want to consider signing a prenuptial agreement. Unfortunately, many people are uncomfortable discussing prenups, and they’re afraid they will hurt their relationship or offend their future spouse. However, communication is crucial for a successful marriage, and having a healthy prenuptial discussion can be a way to demonstrate your readiness to handle upcoming challenges.
A prenuptial agreement requires independent legal counsel to be prepared, and it can cost as much as $2,500 on average (and more in some cases). You should not settle for less than a highly experienced attorney if you cannot afford his or her services. These costs could easily cut into your honeymoon or wedding expenses, so it’s important to find an affordable attorney who can draft an agreement.
Another reason to have a prenuptial agreement is that it protects your assets from your future spouse’s creditors. Some couples enter marriage with a substantial amount of debt. A prenuptial agreement can help prevent such problems. For example, it can establish ground rules about merging bank accounts. It can also protect your children from previous relationships, as well as protect your inheritance rights.
Prenuptial agreements can address a variety of other issues, including property division and spousal support. For example, a prenuptial agreement can address whether one spouse gets the beach house and the other spouse gets the house. It can also address rights to life insurance benefits and other issues. This type of prenuptial agreement should be prepared by a skilled attorney.
A prenuptial agreement can also protect your children if your spouse should divorce you. This contract is a legal document stating how the assets and liabilities of each spouse will be divided in case of a divorce or death. It’s also an excellent way to protect your family business. In addition, a prenuptial agreement can prevent your spouse from acquiring your previous spouse’s debts if the two of you divorce.
Prenuptial agreements help couples avoid a long and contentious battle over property during a divorce. It’s especially important if you have significant assets or stake in a family business. A prenup can also help protect your children from a previous marriage.