You may think that prenuptial agreements are only for the wealthy and famous. More couples are choosing to have a prenuptial agreement before getting married. A prenuptial contract can be very beneficial. But why? You might want a prenuptial contract for a number of reasons.
Wealth
Most famous couples use prenuptial agreements because of their wealth. If they don’t agree beforehand, even if both parties are independently wealthy, arguments can arise over money. Prenuptial agreements are a great idea if you’re wealthier than the other person. It not only protects you in the event of a disaster, but it also shows that your partner wants to marry you for the right reason and not for money.
Arranging Alimony
Some couples also choose prenups to limit how much alimony their spouse will receive after a divorce. This is common, especially when one spouse earns more than the other. This might seem odd, but it’s a great way to set these details in a stable situation.
If your partner has high debt
You might consider a prenuptial contract if you’re marrying someone who has a lot in debt. You can protect yourself from having to pay for debts if you divorce. If you have bad credit, you may want to shield your partner from that responsibility.
When you Remarry
People who are married again often have their own concerns, such as children, property and other obligations. You may not have a way to address these concerns or obligations if you pass away. A prenuptial contract can help you organize all the details. This is especially true if the children from your previous marriage wish to remain with their other parent.
Part ownership of a business
A prenup can be used when you have joint ownership in a business. If you divorce, your ex-spouse could get a piece of the company that the other partners might not want. You would feel awkward if your ex-spouse joined you as a business partner.
You are leaving your job to raise children
You may be in a vulnerable financial and wealth position if you plan to quit your job to raise children. A prenup ensures that both parents share financial responsibility for their children. A family lawyer who handles the prenup will recognize your contribution to marriage by raising a family at home.
Even though you may not think about divorce when entering a marriage, some planning ahead can be very helpful if something goes wrong. A prenuptial agreement can be very beneficial if there are any children.