Prenuptial agreements are a topic that is often avoided by couples and for a good reason. They’re uncomfortable to talk about and can be seen as an attack on one’s relationship. However, prenuptial agreements are important because they provide peace of mind, security, and protection.
All things that every person should want before entering into such a serious commitment. This article will discuss the importance of prenuptial agreements and how they protect both parties in case something goes wrong down the road.
Should You Really Consider Prenuptial Agreements?
Prenuptial agreement may seem like a taboo subject or something reserved for celebrities, but they are an essential consideration. They protect your future earnings and assets and provide you with security in case the worst happens. There is nothing good that will come of entering into a marriage without having one drawn up first.
There are several vital factors to consider why couples should have prenuptial agreements. At Sugar Land Divorce Lawyer, they ensure that you have some reason to consider a prenuptial agreement as early in your relationship as possible.
If you are entering into a marriage with assets or children, you will want to protect yourself and your family if something goes wrong. Without one drawn up beforehand, there is no security that everything can work out for the better. Therefore, you must think about protecting yourself and those you care for before agreeing to such a life-changing commitment as marriage.
Prenuptial agreements are the only sure-fire way to protect yourself in case something goes wrong. Otherwise, you have no guarantee that your spouse won’t take everything when it comes time to divorce. In addition, the law usually favors the party with more assets.
Don’t put yourself at risk of being taken advantage of just because you were too afraid to talk about such a severe issue as prenup agreements.
Peace of Mind
It is easy to feel like you don’t need one because your relationship won’t end in divorce, but the reality is that 50% of marriages do go south at some point. However, those drawn up beforehand can rest easy knowing that they and their future children will be taken care of no matter what happens.
When you marry, it is essential to make sure your family’s security is protected as well. This way, everyone can feel secure knowing the marriage won’t end in a contentious divorce battle like some do these days.
What Are The Pros And Cons Of the Prenuptial Agreement?
Contrary to popular belief, prenuptial agreements are not just for the rich. Prenuptials can be used to protect many types of assets and even provide some financial security in the event of death or divorce by establishing a plan for how one-half is distributed among any children involved.
This does not mean it’s easy to obtain an agreement, though. These agreements can be contested, and a judge has the final say whether the deal is valid. Prior attempts at mediation or negotiation may also not be honored by a court if it’s found that one party was coerced into signing the contract.
Another benefit of prenuptial agreements, especially for those with children from prior marriages, is that it allows for a clear plan of who gets custody and visitation rights if one or both parents cannot have their children live with them.
Prenuptial agreements should also address alimony, spousal support, child-support payments, and other financial contributions to each spouse so there is no confusion later on if the marriage ends in separation or divorce.
What Happens If You Divorce Without A Prenup?
In case of a divorce, prenuptial agreements can be a way for spouses to avoid a lengthy and costly legal battle about who gets what. This is especially true if one spouse has the property the other doesn’t know anything about or large sums of money in investments that neither has disclosed before marriage
If you don’t have a prenup when you divorce, the court will consider several factors dividing your property and assets. These might include:
- Whether you have custody of children from an earlier relationship.
- The length of your marriage.
- Your age, health, and station in life.
- Are you marrying again?
Sometimes the court will also consider the non-monetary contributions that one spouse has made to help build up property or assets during the marriage.
What happens if your ex-spouse dies without a prenup?
If you divorce and both sign a prenuptial agreement, then upon death or remarriage, this contract is automatically terminated according to the laws of your state.
Prenuptial agreements are designed to protect both parties in the unfortunate event that a marriage ends. If you sign a prenuptial agreement, it’s essential to take them seriously and know exactly what your rights are and those of your spouse if either party should want to end the relationship prematurely. Speak to your lawyer and financial adviser before making this critical decision.