When many hear the words “prenuptial ageement,” they immediately think of celebrities and other high-profile people. Many average folks don’t think they have anything worth any value to protect with a prenup. This isn’t true, though.
In the media, we often hear about how celebrities use prenups to list their different assets they bring into a marriage as a way of protecting them from having to split them up with their husband or wife if they divorce them. Prenuptial agreements can be used for so much more though.
By drafting a prenup, you can prevent against your assets being passed on to the wrong person if you predecease your husband or wife. Spouses that are getting remarried have stepped up their for prenups in recent years as a way to ensure that their homes get passed on to their adult kids and not their spouse or their heirs.
Some spouses are increasingly requesting prenups as a way to protect themselves from any debts that their husband or wife may rack up. Others are having them drafted to ensure that they’re not held liable for following through on business deals that their spouse may make. Some individuals even rely on prenuptial agreements to clarify how finances will be handled during their marriage.
Couples can avoid potentially contentious situations by sitting down and discussing their financial situation in advance of their marriage. Whether or not the two of you may be able to reach an agreement about the protection of your assets may be a testament to how strong your relationship is.
If you’re considering drafting a prenup, then it’s important that you start doing so well in advance of your wedding. Having it drawn up some time before you marry will allow the two of you to negotiate the terms and each of you can have an attorney read it over to ensure it’s fair. This will give you the best chance to ensure that it’s legally enforceable if you even have to use it.
Source: WTKR, “Are prenuptial agreements just for the rich? Tips on how to decide you should have one,” May 24, 2018