Did you know that only 24% of Americans are in an intact marriage? Arranging a prenup may be the last thing on your mind while you are writing your vows or choosing napkins. However, negotiating a prenup before you tie the knot can be a smart financial move.
So, are prenups good? Disagreements about money are one of the most common reasons for divorce. A prenuptial agreement can bring you peace of mind before you make the ultimate commitment.
Do you want to learn more about the benefits of prenups? Here’s how you can save yourself money and heartache by negotiating a prenup.
Protect Your Family
A prenuptial agreement can protect your family by including details of your property and investments. A prenup can include your family heirlooms or inheritance and dictate who will receive them when you are gone. You should learn more about these services if you want to protect your family before you get married.
A couple with children from previous marriages may wish to include details of what will happen if they die. This can prevent a spouse from claiming any assets as their own instead of passing them to the children.
Fair Division of Assets
A prenup shows how you would like to divide your assets in a way that suits both parties. You can avoid a lengthy divorce by agreeing in advance on how you would like to divide your belongings and money. A prenup also defines what is marital property and non-marital property.
Marital property is acquired once you are married and can include:
- Retirement contributions
- Businesses (and their profits)
Separate property is what belonged to you before you were married. You are not entitled to any property that was owned by your spouse before you were married.
The average cost of getting a divorce in America is $15,000 or more. A prenup can save you a lot of money in court fees and protect you from your partner’s debt. You can also protect your business and future profits by adding this into your prenup.
A prenuptial agreement can save you thousands in attorney fees. A straightforward prenup will also save you time and money, so try to discuss your desires before you set up your appointment.
Strengthen Your Bond
A marriage with financial clarity for the future is a strong one. Prenuptial discussions are less than romantic, but they will provide a clear financial picture for your marriage. Entering into your partnership with complete honesty will set you up for a long and happy marriage.
Get Peace of Mind With a Prenup Today
Prenuptial discussions can be difficult during such a happy time. It is important to remind your partner that having a prenup could save you both financial stress and heartache in the future if you get a divorce. If you do not, then the law may decide how your assets are divided.
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