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Family Law Blog

The Benefits of Getting a Prenuptial Agreement

Monday, October 12, 2020

If you and your partner are planning on getting married, the last thing that you likely want to think about is the possibility that you will get divorced someday. However, the fact is that divorce rates are still extremely high, which is why it is important that couples plan ahead by getting a prenuptial agreement before the big day.

While prenuptial agreements (also known as prenups) are often thought of as something only the rich and famous need, the fact is that prenups can help protect couples from a variety of backgrounds in the event of divorce. If you are getting married soon, here are just a few of the reasons why you should consider getting a prenup. 

It Forces You to Look at Your Finances

One of the greatest advantages of a prenuptial agreement is that it forces couples to take a look at their finances. One of the most common reasons for problems in a marriage is that couples often go into marriage with different ideas and expectations about money, leading to fights down-the-road. However, during the process of creating a prenup, couples are forced to look at their finances, and this often facilitates discussions about money, which can actually help to prevent future marital problems. 

You Both Have Debt

Many people believe that they do not need a prenup if they do not have a lot of money; however, a prenup can be equally important if one or both spouses have debt. These days it is not uncommon for couples to enter a marriage with both parties having credit card debt, auto loans, and student debt. Getting a prenup can actually protect you from each other's debt, as the prenuptial agreement can outline who is responsible for what financial obligations in the event of a divorce.  

One of You Owns a Business

It is particularly critical that you get a prenup if one of you is a business owner. Oftentimes when a couple gets divorced and they own a business, this can leave the business in jeopardy of being torn apart. A prenup can then help to protect this premarital asset by outlining how much of the business each spouse is entitled to in the event of divorce.

Conclusion

Contact us to learn more about how a prenuptial agreement can protect you upon entering marriage.