Should you have a Prenuptial Agreement?

prenup

A prenuptial agreement is a legal document signed by both parties previous to them getting married. In that states what assets they came to the marriage with and what will go to which partner should they end up divorced at some point in their future. Since the division of assets is one of the most contentious points in a divorce, a prenuptial agreement, or prenup as it is called is meant to act as a modicum of protection. Some people feel they are necessary in a social climate where 50% of marriages end up in divorce. Others believe that it is setting a wedding off on a negative tone. It may plant the seed that the marriage is doomed to fail, instead of encouraging the couple to work on the marriage and get through difficult situations, so say detractors. If you are planning to get married, should you have a prenuptial agreement? And how do you know if it is right for you? Remember that both parties have to sign the document for a prenup to go into effect (wikihow.com). So discuss the pros and cons with your partner and see if it is right for both of you.

Often when one member of a couple has a significant income or net worth, they want to protect it. If that person has children from a previous marriage, or others involved who stand to gain or lose out due to a contested divorce, a prenup may put those others at ease and help them to accept the marriage. How do you two interact with one another? Is this a marriage of deep love and commitment or one of convenience? Is this a trophy wife or husband or a partner whom you plan to spend the rest of your life with? These issues should be considered carefully. Even when the relationship is solid, many people get a prenup just in case. There is no shame in doing this. But you need to talk with your future partner to see how they feel. Do some soul searching, too. Research prenups online. If you are ready or want to find out more, do some research on attorneys in your area who handle prenuptial agreements and make an appointment. Make sure the attorney you choose is respectable and has a good reputation. Many times attorneys will give you one free session. See if you can come with your spouse-to-be and get all of your questions answered before deciding to move ahead. If you decide a prenuptial agreement is for you, stick with your decision. Don’t back out of it.

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