Although a prenuptial agreement isn't right for every couple, it's something you should think about before you tie the knot. If you don't, you could find yourself in a bad spot should your marriage result in divorce at some point in the future.
The best thing you can do is learn more about the benefits of a prenuptial agreement, as this will help you decide if it's right for you and your partner. Here are some of the top benefits:
- Peace of mind in knowing that the assets you bring into the marriage will be protected if you divorce
- Opportunity to protect a professional practice or business interest upon divorce
- Protection against the debt that your partner brings into the marriage
- A way to limit the amount of alimony that one person will pay to the other after divorce
- Protect the inheritance rights of any children from a past marriage
These are not the only benefits of a prenuptial agreement, but they are definitely among the most powerful. If you have reason to believe that one or more of these could change your life for the better, you need to explore the finer details of a prenuptial agreement.
It's never easy to discuss the creation of a prenuptial agreement with the person you love, but it's in the best interest of both individuals. Once you have this conversation out of the way, both people will feel better about moving forward. Even if you don't end up creating a prenuptial agreement right now, at least you'll know what it's all about and how it can protect you should you change your mind.
Source: FindLaw, "Pros and Cons: Premarital Agreements ("Prenuptials")," accessed Jan. 10, 2018