Four Key Advantages Of Prenuptial Agreements: Why Couples Should Consider Them
If you’re a man or woman who has popped the question, you
might be wondering if your next step before marriage is to get a
prenuptial agreement put together. About 50 percent of United States’
marriages end up in divorce so creating a prenuptial agreement helps
couples in planning ahead for their future.
Now, most folks look at the premarital agreements as being just for the
wealthy. However, it’s not! Statistics have shown that this kind of
agreement can benefit both parties should they decide to get divorce.
Of the biggest issues couples have about prenuptial agreements is the
unromantic feelings tied to them. Rather than viewing them as a plan to
prepare for divorce, they see it as an insurance policy in cases of
divorce. In California, prenuptial laws were designed to protect
couples from losing their property that each party had before the
marriage. It also stipulates how the property is set to be distributed
upon divorce or death.
The Benefits Of A
Prenuptial Agreements
About one-third of adults said they would ask their “significant other”
to sign this premarital agreement before they get married. However,
just three percent would ask their finance or spouse to sign one. This
is one of the biggest reasons couples decide not to design a prenuptial
agreement even though there are numerous benefits to them. What
benefits?
1 – It protects the separate property you have – defining what is
considered community or marital property. This is very help when you
need to plan your estate.
2 – It can provide some clarification about special agreements between
you and your significant other such as clauses regarding adultery,
scheduling housekeeping duties, how often to be intimate, etc.
3 – If parties bring in debt to the relationship, a prenuptial
agreement protects the spouse from being liable with their partner’s
debt should they divorce.
4 – If one party has a business, it can ensure there is no battle over
the property if the marriage ends in divorce.
A couple, even if they see the benefits to this premarital agreement,
may have some misconceptions about it, which hold them back from
creating one. For instance, couples may think putting together a
prenuptial agreement is too expensive and unfair. Actually, this is not
true! A court, if your position is worse now than before the marriage,
will void the prenuptial agreement.
Many couples are seeing prenuptial agreements have a worthwhile
financial tool, and many financial experts suggest couples who want to
get married should design a prenuptial agreement. Since more and more
couples are waiting later in life to get married, they have more assets
they bring into the marriage.
Statistics say 15 percent of people who get divorced regret their not
having one. Nearly 40 percent of Americans who have been
divorced and decide to get married again said they would ask their new
significant other for a prenuptial agreement.
The reason is that prenuptial agreements ensure the divorce process
goes smoother and quicker. If you want to come up with a
premarital agreement or need more information, get some legal advice
from an experienced attorney to look over your agreement and make sure
both of you are protected in the event of a divorce.