Why You Should Consider a Prenuptial Agreement
Jan. 25, 2021
It can be quite hard to believe that your dreams of a long life together could be over one day when you walk down the aisle with your loved one. Sadly for some people, the truth is that they may break up sooner or later. One hard concept people can accept is breaking up, especially when you are deeply in love and believe they will have a happy marriage. Find more information here.
How a Prenuptial Agreement Works
As a legal document, married couples use a prenuptial agreement to agree on how they want their assets and finances to be shared if the marriage breaks down or a partner’s death. The previous belief is that prenuptial agreements are for the rich. However, there is a recent increase in the prenuptial agreement creating. See here for information about Ways to Get Out of a Prenuptial Agreement.
Reasons to Make a Prenuptial Agreement
You can consider a prenuptial agreement because of some of the reasons:
A ‘debt clause’ prenuptial agreement can protect you from being liable for the debt if your spouse has outstanding debt.
Either spouse has a business which they would like to retain control, such as the potential increase in the business profits.
You wish to have power in how financial issues would be resolved in the event of the marriage breaking down.
You want to protect inherited assets or money.