Why You Should Get a Prenuptial Agreement
When you get married, you always think that the relationship will last a lifetime, but sadly, not all marriages do. Many couples divorce, separating their assets and liabilities. One way to protect your assets, liabilities, and interests is to get a prenuptial agreement.
A prenuptial agreement is a document to establish rules for the marriage and procedures for possible future matters. According to the website of the Law Offices of Baden V. Mansfield, prenuptial agreements often address issues such as the division of assets, visitation rights to children, custody of children, and alimony.
It protects your separate properties
Courts and state laws are often the ones who divide the properties of divorcing couples, and there are instances where you may feel like you are getting the short end of the stick. If you get a prenuptial agreement, you can clearly state which properties are non-marital, so you may get a hold of these properties upon divorce.
It ensures that your children from another marriage will get something
If a divorce has been filed and you don’t have a prenuptial agreement, your spouse may get most of the assets, leaving your children from another marriage with nothing. To make sure that these children will get what they rightfully deserve, you may want to state their inheritance in a prenuptial agreement. This is also a good way to secure their future and financial stability.
It protects you from unwarranted debts
Your spouse may have accumulated some debt even before your marriage, and creditors may take your assets and properties if your spouse fails to give the money back. By having a prenuptial agreement, you can avoid unnecessary financial strains such as this, by agreeing on the rule that your partner’s accumulated debt is his or her responsibility.
It reduces conflict
Divorces can be very emotional, especially if the couples involved are separating because of crucial disagreements. If these couples have prenuptial agreements, the legal processes concerning divorce may be significantly easier to accomplish because of the established rules in the documents. This can also save the couples emotionally, as they part ways in peace.