The big question has been asked. Your families have been informed of your future intentions. The wedding plans are now in full swing. Love is in the air. Now, the next big question would you sign a prenuptial agreement? A prenuptial agreement is a contract between the two people getting married or entering into a civil union. The agreement can help in protecting each person’s property rights or financial interests.
Would I Sign a Prenup?
If there ever came a time that I was to enter into marriage, I would sign a prenuptial agreement. In fact at the stage of my life, I would probably be the one who would suggest the agreement. Not that I do not believe in love and the notion that a marriage should last forever, I do. But, I also believe in reality. I believe that a prenuptial agreement shows a level of maturity, commitment and trust between two people. The fact is the divorce rate is high in the United States. I would want to protect my assets that I have previously acquired. They are not grand assets but I have worked hard for my belongings. At the very least, I would want to leave a marriage with what I started.
Making the Prenup Legal
There are some factors to consider when making a prenuptial agreement legal.
- · A prenuptial agreement must be a written document. Each person entering the marriage or civil union must have an attorney.
- · Be prepared to share all your information in regards to assets and liabilities. A prenuptial agreement means full disclosure.
- · Both parties must enter into the agreement voluntarily. There cannot be any force one of the parties to sign the prenup; this has to be a mutual decision.
- · The agreement must be signed in front of a witness. Be prepared to bring a reputable person with you to the meeting. One who you will both trust with your personal information.
- · Of course the most significant and obvious point, the agreement must be signed prior to the wedding or entering into the civil union. If the agreement is not signed before the wedding; the agreement is not valid.
Why Enter a Prenup?
There are many reasons why a couple should enter a prenuptial agreement. Here are some of the factors to consider if you want to determine if you should enter into a prenuptial agreement.
- · Do you have substantial amount of assets? Assets to consider are do you own your home or other real estate investments, stocks or stock options, or a retirement fund.
- · Do you own your business? Or partial owner in a business or professional practice?
- · Do you have family members to consider such as children, grandchildren or elderly parents to care for?
There are many other reasons for considering the use of a prenuptial agreement. Each couple will have other aspects to add to the contract depending on the situations.