We’ve all heard of prenuptial agreements- a contract between an engaged couple stating what can and will be divided up if a marriage fails- but not everyone is willing to sign one. But should you? And more importantly: Why should you?
Everyone enters into an engagement with high hopes for the future. Everyone thinks that their beloved wil be the one and only and fully expects to be married to them for the rest of their lives… however, things don’t always work out the way we planned. People grow and change over time, and sometimes, that means growing apart from the one we decided to stay with forever.
Without having a prenuptial agreement, any and all assets are then fair game to be divided among the divorcing parties, meaning precious personal belongings, money, and other assets could find their way into the possession of the person you are divorcing.
Benefits of a Prenup
Prenups can ease a divorce proceeding by protecting each parties assets and preventing any surprises coming up at the divorce trial. Prenuptial agreements – a contract between marriage partners which will be observed and upheld in a divorce trial- help keep everything above board and ensure that if your marriage does fall apart, you won’t be taken advantage of when you go before the judge.
A prenup will also protect your future assets, like earnings from a business or an inheritance that should not be shared with the divorcing spouse. And while there are things that can be specified and upheld in this contract, there are some things a prenuptial agreement cannot do.
One of the things a prenuptial agreement can’t do is prevent the payments of child support. They also can’t limit the amount of child support, or impose custody or visitation rights- these will be set by the judge and enforced by law.
Keep in mind that prenups should not be presented when either party has been drinking or if one of you is pregnant; Prenups are legal documents and may be considered invalid if one or both parties is intoxicated or considered to have a medical condition (as pregnancy is considered as far as prenuptials go).
To sum up, you should be very wiling to sign a prenuptial agreement. A prenup will not only protect you from losing hard earned assets and items you’ve acquired that can not be replaced, it will protect your children and future children from having their rightful inheritance take from them.
A prenup protects both parties and helps to ensure that each gets what is rightfully theirs, should their marriage fall victim to growth and statistics.