How Do I Know if I Should Get a Prenuptial Agreement?
Posted on Nov 30, 2022 4:00pm PST
In this blog post, we'll explore some of the key questions to ask yourself
when deciding whether to get a prenup. By the end, you should have a better
idea of what's best for you and your future spouse.
What to Consider When Deciding Whether to Get a Prenup
As you start planning for your big day, you may be wondering if a
prenuptial agreement is right for you. After all, nearly half of all marriages in the United
States end in
divorce.
However, there are many factors to consider before making this decision,
such as the following:
-
Research what a prenuptial agreement is and why some couples choose to get one. A prenuptial agreement is a legal contract entered into by two people
before marriage that outlines what assets and debts each person will be
responsible for during the marriage and in the event of a divorce. While
some couples may feel that a prenuptial agreement is unromantic or signals
potential problems ahead, this is not always the case. In reality, prenuptial
agreements make perfect financial sense for planning ahead, protecting
privacy, and safeguarding both parties from unforeseen issues that may
arise due to the combining of finances. They also clarify expectations
regarding division of estates, division of assets in the event of death,
and can even outline provisions for spousal support should one party require
it. Prenuptial agreements are becoming more commonplace for modern couples
as a proactive move to protect their joint economic security.
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List the pros and cons of having a prenuptial agreement. Prenuptial agreements can be a wise and prudent decision for couples planning
to get married, as they provide several benefits. One of the main advantages
to having a prenuptial agreement is the protection it provides in terms
of assets. Spouses can set rules that detail what property each individual
enters the marriage with, such as cash accounts, real estate, or even
loans owed. It also allows both parties to designate who will pay any
debt accrued during the marriage, which can help the couple avoid complicated
family court proceedings if divorce becomes necessary. On the other hand,
a prenuptial agreement may create an uncomfortable atmosphere prior to
a wedding by forcing the couple to engage in honest discussions regarding
finances (which can sometimes invite undesired stress and arguments.)
In addition, prenups cannot usually stand up in court if certain criteria
is not met or if either party has been coerced into signing it. An awareness
of these pros and cons should help couples make wise decisions about whether
a prenuptial agreement is right for them.
Ultimately, for couples who are considering a prenuptial agreement, the
decision comes down to how comfortable the couple is with taking a financial
safety net into their marriage. It's important to remember that a
prenup is not necessarily a bad thing. It can protect both people in the
event of an untimely dissolution of the marriage. Having an open and honest
discussion early on is key. Talk through what you and your future spouse’s
expectations are financially and emotionally since this will help significantly
if you decide to get a prenuptial agreement.
Above all else, agreeing to a prenup should be considered as an important
part of taking care of each other, rather than a document designed to
limit anyone's ability to get what they deserve. At the end of the
day, the decision is personal and should be made with care.
For more information about prenuptial agreements in California, or to speak to our experienced prenup lawyers in Fresno, give Arnold Law Group, APC
a call at (559) 900-1263 or contact us online
today to schedule a confidential consultation.