Getting Hitched? Why You May Want To Consider A Prenup
by Joan Bradley
Prenuptial agreements are often associated with a bad reputation. There is a misconception that opting to draw up a prenup means that the couple assumes they will not make it for the long haul. However, choosing to work with a family law attorney and have a prenuptial agreement drafted is simply safeguarding both individual's assets similar to the way that home insurance protects a home in the event of a catastrophe. Though you hope you never need to use it, here are a few reasons you should consider having a prenup drafted before you get married.
One Partner Has More Assets
If one individual has more assets of any form than the other, it may be a good idea to consider having a prenuptial agreement drafted. Owning a significant amount of land, a business, or any other kind of assets of considerable worth means that you may be looking at splitting all assets rights down the middle in the event that the marriage dissolves in the future. Though no one wants to think about such a thing, having a prenup will ensure that the partner who has inherited or worked hard for the assets will be able to retain them in the event of a separation.
One Partner Has Significant Debt
Regardless of how well you are doing in the finance department, divorce can take a huge hit. Without a prenuptial agreement in place, you may be accountable for helping to cover some of the debt that your spouse has taken on, thanks to the alimony payments. However, a prenup can help safeguard your own finances, minimizing the overall risk of threatening your credit in the case that you and your spouse split later on.
Protect Both Partners
The great thing about a prenuptial agreement is that it has the ability to protect both partners in the marriage. In some cases, individuals choose to have prenup drafted because they have previously been through a chaotic divorce and have seen the emotional and financial damage that it can cause. A divorce can be costly for all parties involved, but a prenup can ensure that all individuals spend less money and time on the separation.
If you are planning to get married in the future, you may want to consider talking to a family law attorney and having a prenuptial agreement drafted up. Don't think of it as a bad omen to your marriage; simply think of it as a way to protect both of you in the event that things don't work out for whatever reason. Just plan for the worse and hope for the best!
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About Me
You walk into your favorite grocery store and right away, you slip and fall only to sprain your ankle. You can't perform your job because it requires standing on your feet all day, which means that you can't make any money to support your family while your ankle heals. There was no warning that the floors were wet after being cleaned in the store – so what do you do? It's probably a good idea to think about filing a personal injury lawsuit. Of course, anyone with experience with a personal injury case will tell you just how important it is to work with an attorney throughout the process. I'd like to share insight I've learned through three personal injury cases that I myself have had to go through in the past. I think the information on this website can help people like you, who need some personal injury guidance.