A prenuptial agreement can help you to protect your, or your spouse’s, wealth in case of a divorce. Prenups offer certainty in circumstances where you would prefer to agree in advance in case of a divorce, rather than leaving it in the hands of the courts.
Divorcing can be a hard thing to accept; especially if you once was deeply in love and believed in being happily married forever.
Below are 10 reasons why you should sign a prenuptial agreement before marriage.
Divorce Can Ruin Your Credit: Divorce can ruin your credit and financial stability. Without a prenup, there are chances that you will have to pay for alimony as well as child support, in case you have kids from that marriage.
Prenups Help Avoid Stressful Situations: When it comes to separation, there will be less bickering, less frustration, and less arguing about who gets what when there is a prenuptial agreement. Divorces are horrible events in your life and emotions often run high, and your ex spouse can take everything away from you and leave you with nothing.
Almost 50% of All Marriages End In Divorce: Statistics say that almost half of all marriages end up in divorce. Many people realising that they’re not compatible after marriage. This is a reason why you sign a prenup so that you know you have access to funds after a messy divorce.
Everyone Gets Their Fair Share: Signing a prenup is simple. In terminating a marriage, a prenup helps the husband and wife reach a fair arrangement. Everything will be fair and equally.
Smart Decision: Signing a prenup will allow you have a fair settlement in case their marriage goes wrong. Even if you think that you will never break up and that the marriage is solid. A prenup will not hurt in signing.
Keeps your finances separate: If you’re wealthier than your partner and earn more than them, a prenup is a good step towards ensuring that your partner isn’t marrying you for your money and you keep everything separate.
Protect your assets in the event of remarriage: If you want to get remarried after your divorce, you’ll be faced with a new set of challenges and complications when it comes to knowing how to protect your family as well as your property.
A prenup for a second marriage will address all the concerns as well as addressing concerns arising from obligations from the previous marriage.
Avoid extensive court proceedings: A divorce is a painful enough process, especially having to battle it in court. A prenup signed ahead of your marriage will be much smoother and calmer for you.
Protection from spouses debts: A prenup can help you not have pay each others debt in the case of divorce. Any agreement will show the separate debts of each partner going into the marriage as well as individual assets.
Photo Credit: Getty