Getting married and deciding to merge your life and your finances with another person in a legal way is a huge decision. And once the decision to marry is made, there are numerous other decisions that follow, too, such as what type of wedding you’ll have, how you will divide household tasks and earnings, and what your parenting style will be (if you decide to have children, that is). One conversation that you and your future spouse should have when discussing your life plans is in regards to the value of a prenuptial agreement. At Divorce Matters, we believe that prenuptial agreements can be valuable tools that, in the event of a divorce, allow for clarity and mitigate conflict. Here are some reasons why you should consider a prenup–
You Want to Protect Separate Property
There is a strong chance that you, your future spouse, or both of you are entering the marriage with separate property that you each find valuable, and would hate to lose in the event of a divorce. This might include family heirlooms, a family business, or even personal cash reserves. What’s more, you and your spouse may want to keep income and assets separate over the course of the marriage. If any of these are true, then creating a prenuptial agreement can help to ensure that both of you have protection, and that in the event of a separation, you will have the right to keep your assets.
Protect Yourself from Debt
Just as you may want to protect your personal assets, and your spouse theirs, so may you want to protect yourself from incurring any of your spouse’s debts. Suppose your spouse has credit card debt when entering the marriage, is a sole proprietor and has business debt, or plans to accumulate debt in the future by attending graduate school or pursuing another personal endeavor – whatever it is, if you do not want to be liable for that debt in the event of a divorce, you need to include a provision in your prenuptial agreement regarding this.
Mitigate Conflict in the Event of Separation
Surely, no one marries with the intent of getting divorced. But even the best of marriages are trying, and sometimes, the stress of marriage is too much for a couple to handle. If you and your spouse do decide to divorce, you can at least take comfort in the fact that the divorce process will be relatively straightforward if you have a prenuptial agreement, as you will not have to worry about working together to reach a determination about how property should be divided.
Call Our Lakewood Divorce Attorneys Today to Learn More
As you plan for your future and your relationship, don’t rule out the formation of a prenuptial agreement. A prenup can have myriad benefits, and can actually be a positive for couples. To learn more or start the process of forming your prenuptial agreement today, call our team at Divorce Matters directly or send us a message requesting more information.