5 Reasons to Consider a Prenup

Have you been thinking about getting married? It may be time to consider utilizing a prenuptial agreement. Here’s what you need to know.

When you’re preparing to get married, you’re probably worried about things like your guest list and your photographer. You want to make sure your favorite cousin can attend the ceremony. You likely aren’t worried about whether or not you’ll get divorced. For some couples, bringing up the idea of a prenuptial agreement is very sensitive. Some adults believe that even thinking about signing a prenuptial agreement is the same thing as admitting that the relationship won’t work out; however, it’s actually very important to consider all of your legal options and rights before you and your partner tie the knot. A prenuptial agreement actually carries a number of benefits, so here are just a few reasons you may want to consider signing one.

1. You own property

If you own property that you purchased prior to your relationship or that you inherited from a family member, you may want to take steps to ensure that it stays within your side of the family. Utilizing a prenuptial agreement is one way you can ensure that your property stays with you. For example, if you and your partner decide that you want to go your separate ways, but you do not have a prenuptial agreement in place, it’s possible that you’ll be forced to share the property with your spouse even though you owned it prior to the marriage starting.

2. You have an inheritance

If you plan on inheriting a large portion of money, property, or land, you may want to consider implementing a prenuptial agreement that clearly outlines that the inheritance will remain with you after a divorce takes place. Remember that even if you love your partner dearly, sometimes mistakes happen or relationships fail. Sometimes this can happen five or ten years down the road. A prenup can help protect your inheritance if that does happen.

3. You own a business

Your personal business may be impacted if you and your partner separate or divorce. Understand that even if you established your business prior to marriage, your partner may be entitled to a portion of it after your divorce. A carefully worded prenup can ensure that your business remains with you.

4. You’re concerned about debt

Do you and your partner agree about money? What about debt? If you disagree on how to spend money or handle debt, you may be concerned about the distribution of debt after your marriage is dissolved. For example, when a couple divorces, generally speaking, they may “share” the debt. You can outline how you’ll divide debt in your prenup.

5. You want to limit alimony

One of the most important parts of a prenuptial agreement is the discussing of alimony and child support. If you have specific ideas for how you want to handle this after marriage, you can outline these preferences in your contract.

If you have questions about whether a prenuptial agreement is right for you, visit your family law attorney today. Talk with your lawyer about your upcoming wedding and how a prenuptial agreement could benefit you and your partner. Your lawyer can help you discuss the pros and cons of such a contract. If you do choose to use a prenup, your attorney can help you draft the contract itself.

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