The Importance Of A Prenuptial Agreement
Getting married is a time of planning, anticipation, and excitement for everyone involved. However, many couples do not think about getting a prenuptial agreement before their marriage. This legal document outlines how a couple's assets will be divided if they get divorced or separated in the future. While it may not be something you want to talk about, getting a prenuptial agreement is very important for the following reasons.
Protect Assets
Many couples decide to get a prenuptial agreement because of how it can help protect their assets. If you have a business, investments, or property, a prenuptial agreement will play an important role in ensuring that your assets will remain yours. Without a prenuptial agreement in place, all of those assets could potentially be divided between you and your spouse, and leave you with less than what you had before the marriage.
Provide Clarity
A prenuptial agreement can also provide clarity to a couple prior to their marriage about how finances will be managed. That's because money-related issues are often a common problem between couples that can lead to divorce. The prenuptial agreement helps prevent misunderstandings when it comes to money matters. It can result in having separate bank accounts, and clarifying what money belongs to each person.
Save Time And Money
One of the lengthy parts of settling a divorce is distributing assets. This is due to how all assets need to be assigned a value and then divided between the couple. Many of the tough decisions about asset distribution are already decided with a prenuptial agreement. If those terms are already outlined going into divorce mediation, you can focus on those aspects of the divorce that are not outlined and are more important to you. For example, you may have concerns about child custody and child support payments and can focus on those instead.
Protect A Business
Anybody that owns a business should consider a prenuptial agreement. That is because a business will need to be divided during a divorce, which can cause serious disruptions for the business owner and the employees. You shouldn't have to let other people suffer as a result of a divorce, especially when you're dealing with the employment of others.
Think that you want to create a prenuptial agreement prior to your marriage? Reach out to a family law firm in your area that can help draft the necessary documents that meet your needs.
