Prenuptial agreements are becoming more common these days and don’t have the stigma they once had. In fact, many couples are signing prenuptial agreements even when they believe that they will stay married until death do them part. Even though marriage should be built on trust and romance, it really is a business agreement between two people. Let’s look at both the pros and the cons of signing a prenuptial agreement.
The cons of signing a prenuptial agreement include the following:
— You might have to forfeit the right to inherit from your spouse’s estate upon his or her death.
— Beginning the relationship with a contract could cause trust issues.
— You might not be able to share in the increase of your spouse’s business value if you sign the agreement.
— It is tough to foresee the future regarding specific problems and how they should be handled.
— The life style that one spouse has become accustomed to might not be sustainable if the marriage ends in divorce with a prenuptial agreement in place.
The pros of signing a prenuptial agreement include:
— The ability to protect a business owned solely by you from being divided equally during divorce.
— Protecting the inheritance rights of your children and grandchildren from a previous marriage.
— Protecting you from incurring any debt your spouse has if you are debt-free.
— The agreement can outline how decisions will be made or how responsibilities will be shared.
— Ensuring that you are compensation in divorce if you gave up a lucrative career for the marriage.
— Protecting the financial interests of people marrying for a second or third time and those who have substantial wealth.
— The agreement can also put a limit on the amount of spousal support one spouse will have to pay the other in divorce.
Vis it our site today to learn more about prenuptial agreements and how you can create one prior to your marriage.