What are the Benefits of a Premartial Agreement?

One of the most unromantic subjects that you could ever bring up around your fiance is the subject of prenuptial agreements. However, despite the initial upset reaction you may receive, prenups may be a subject you really need to approach with them. We recommend you continue reading this article to find out if a prenuptial agreement is right for your situation.

A prenup (or as it is also known, a prenuptial agreement) is a legally binding contract that states the disposition instructions for your property before you enter into marriage. Or more simply put, if you end up in divorce, the prenup states who will get what in reference to personal property.

Now, you may be asking, why would someone even entertain the thought of a prenup? Of the many situations, the one you are most familiar with is that of a very wealthy future spouse and a not so wealthy future spouse. In this case, the wealthier individual would want to protect their property in the case of a divorce.

Second, a prenup may be right for you if you are a person who has children from a previous marriage. They may be some items that you want your children to have (such as heirlooms) and a prenup would be a good way to ensure your children receive them.

Third, if your fiance has a large amount of debt, you would not want to become legally liable for it. While this may sound cruel, we feel that we all need to accept responsibility for our choices in life.

Fourth, some people choose a prenup in anticipation of the marriage failing. While they do not intend for the marriage to fail, they do want to make sure that if it does, there is no animosity in the splitting of assets.

There is something that you should remember though. While the prenup is a great tool, you cannot use it to specify child support or visitation rights. Additionally, you cannot decide who will gain custody over the children. Only the legal system can decide how these matters will be handled.

As you can see, there are numerous benefits of getting both parties to agree to a prenuptial agreement. Unfortunately, many people interpret a prenup as a lack of faith in their relationships success. In reality, this is not the case. You are simply doing the right thing to ensure both you and your future spouse are protected, should the worst ever happen.