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Do I need a Pre-Nuptial?

Posted:  Apr 25, 2019

Possibly the last detail anyone wants to discuss when entering into a happy marriage is deliberating over getting a pre-nuptial agreement. Many people may feel it’s entirely unromantic and may even hurt the relationship before the wedding takes place. However, life sometimes happens, and a pre-nuptial could save years, or even decades, of worry or worse, financial ruin.

Every relationship originates its own set of unique circumstances. Unquestionably, a pre-nuptial agreement must be tailored to each person’s distinct needs. If either party is experiencing difficulty in deciding if a pre-nuptial is suitable, it helps to consider the advantages and disadvantages in advance.

ADVANTAGES OF A PRE-NUPTIAL

  • A pre-nuptial can provide a back-up to your estate plan, thereby avoiding court involvement in future property distribution.

  • Protects each spouse’s property ownership and distribution, as well as assets, particularly if there is a significant amount. In addition, a pre-nup protects children’s interests if there are any from a previous marriage.

  • Reduces potential conflicts in the event of a divorce.

  • Establishes rules and procedures in the event of future changes in circumstances, such as the addition of children.

  • Assigns fair debt liability to each party.

  • Brings to light any financial conflicts couples may have early on so they may be resolved amicably with an agreement.

DISADVANTAGES OF A PRE-NUPTIAL

  • A court can decide a pre-nuptial is unjust to one person and set aside provisions contrary to what was written in the agreement.

  • Only covers financial issues, not personal preferences such as child custody.

  • If either party feels discussing the distribution of finances and property due to divorce or separation will damage the relationship, they may be more comfortable opting out of a pre-nuptial.

  • A post-nuptial agreement may be more fitting if spouses are unclear as to how to manage financial agreements until after the household has been established.

  • If neither you nor your spouse own real estate, business interests, significant assets and investments, nor do either of you attend school, then a pre-nuptial may be unnecessary.

Discussing a pre-nuptial with a prospective spouse need not be stressful or uncomfortable. Indeed, being completely transparent with one another can bring you closer together, regardless of disagreements. A well-written pre-nuptial with well-defined provisions gives both parties security in knowing his or her wishes are respected under law.

Stevens and Company law firm understands the intricacies of composing a pre-nuptial suited to your relationship and can help you enter a pre-nuptial agreement with confidence and conviction.


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