Prenup isn’t a dirty word. For many couples, a prenup can help ease anxiety about future finances and family issues.
Why should you get a prenup? Is it worth the extra headache when planning to get married?
Here are 7 major reasons to consider a prenuptial agreement:
1. Overrides Local Divorce Laws
In most states, a prenup overrides the state’s divorce laws. This is a major benefit if you get married in a state with less favorable marriage laws for your situation.
2. Protects Future Assets
Some couples think they should skip a prenup because they don’t have any assets when they get married – but a prenup also protects your future assets.
If you’re still in a career with lots of growth potential, you might want to consider getting a prenup to simplify the division of assets once you increase your net worth.
3. Shortens Length of Divorce
Contested divorces can take years to finalize. A prenup can simplify the process by outlining in detail who gets what during the divorce process.
You might not be able to imagine this scenario going into a marriage.
Consult with an attorney who specializes in postmarital agreements to learn more about what to look out for in a contested divorce.
4. Eases Stress on Children
Blended families are a new normal. Ease the stress on stepchildren by making arrangements for their care in the event of a divorce.
Your spouse might change his or her mind about your visitation rights in the heat of the moment.
Make sure you have access to biological and non-biological children following a divorce by outlining these desires in your prenup.
5. Protects Your Pets
Yes, pets are family too. Keep Fido out of the fighting by deciding in advance who gets the dog/cat/fish/bird in the event of a divorce.
If you’re planning to split the responsibility, outline in detail how you’ll address things like transportation to the vet, medical bills and boarding costs.
6. Avoids Business Failure
Divorce gets emotional. Add in the possibility of losing a business you’ve poured your heart into and it is almost unbearable.
Avoid the possibility of losing half of your company to your ex-spouse by getting a prenuptial agreement.
7. Keeps Debt Away
Why should you get a prenup if there’s no possibility of becoming a top earner in your career? One major reason is to avoid the burden of your spouse’s debts.
In some states, you could become liable for debts even if you didn’t know about them.
Why Should You Get a Prenup?
“Marriage is forever.”
If you’re lucky enough to live in this relationship reality, it might seem negative to even mention a prenup to your partner.
So, why should you get a prenup? Because an ounce of prevention is worth a pound of cure.
Prenups protect your family from a potentially messy divorce and help everyone move on in an agreeable way.