Marriage is a lifelong commitment, helping you achieve stability and consistency in life. It also marks a new beginning, which leads you to discover new aspects of life with your partner. But the pathway to marriage is not free from impediments and you must be prepared to face difficulties.
As a couple, you must have an understanding of some important matters such as balancing work and domestic issues. However, the most important aspect is your finances. Most couples do not pay attention to the division of financial assets and duties. And if they part ways in the future it leaves one of the partners in a financially vulnerable state.
The solution to this is to create a prenuptial agreement. A prenuptial agreement is like a contract that outlines the financial duties and aspects of a marriage.
What Is A Prenuptial Agreement?
A prenuptial marriage agreement is a contract that is signed by a couple and deals with matters pertaining to the financial aspects of their marriage. Signing a prenuptial agreement can be a positive development in your course towards the married life because it helps you to have a healthy discussion regarding your finances.
There is a stigma around prenup but it provides a safety net. The financial, asset, inheritance, and property rights are safeguarded in case of a divorce. Statistics show that almost 50% percent of all marriages end up in a divorce in the US. Creating a prenup would be a wise thing to do.
The Advantages Of A Prenup Agreement
As stated above, it might be difficult for you to get your partner on board to sign a prenup. But in the long run, it will help you both.
- One of the key advantages of a prenup is that it may relieve your responsibility for your partner’s debt or loans after you get divorced.
- The agreement can protect the right to inheritance of your children and grandchildren from a previous marriage and ensure they receive the assets in case of your death.
- It will also specify the division of assets between your children and other relatives in case of your death or your partner’s death.
- If you are a business owner, a prenup can protect your interests and future business assets in the event of exponential growth. It will keep your former spouse from meddling in business affairs.
- A prenup will consolidate the inheritance and assets to you if your partner dies.
- It will also keep you from a messy and expensive divorce because you have already sorted out the most common and emotional factors and you can move on quickly.
Get Guidance And Consultancy
Situations, circumstances, and commitments can change at any point in our life so we must remain prepared. A prenup will be a great way to develop mutual understanding on matters that can affect both of you in the event of a divorce.
If you are someone that is going to walk down the aisle in near future, we would recommend you seek a prenup attorney in Katy, Texas. Our team at Skillern Firm will guide you through the process and answer all of your questions related to the prenuptial agreements.