Prenuptial agreements are not just for extremely wealthy people. Everyone who is planning to enters into a marriage should consider the value of having a prenuptial agreement.
Some people are reticent to discuss the topic with their fiancees simply because it suggests doubt about the marriage. In reality, this type of agreement does not necessarily mean that you think your marriage may not last. It simply means that you want to avoid conflict or surprises. Here are some reasons why you may need a prenuptial agreement.
Keep property separate
After many years of marriage, each spouse’s property can become marital property that will be subject to division if they divorce. A prenuptial agreement will spell out what property people can keep after a marriage.
Protect business interests
Having a prenuptial agreement can be especially important for small business owners. It enables them to preserve funds and assets tied to a business, and it helps them honor their obligations to other people with an interest in the business. Spouses who both have an ownership stake in a business or work together can greatly benefit from the clarity of a prenuptial agreement.
A prenuptial agreement spares both spouses from having to go through stressful litigation. When people are clear about what will happen after a marriage, they do not need to argue about it in court. Having a plan in place makes it easier for people to part ways amicably.
Ultimately, a prenuptial agreement can offer considerable peace of mind to both spouses. Wanting to have a prenuptial agreement reflects practical planning and consideration for one another.