While it’s no fun to think about the possibility of a marriage ending before it even begins, the reality is, that divorce rates are high, and protecting yourself before taking the big step can bring peace of mind and a resolution to some arguments before they even start.
A prenuptial agreement is a legal document that specifies what assets belong to whom before getting married. Should divorce occur, it protects any assets that were brought separately into the marriage. It could also state that everything will be evenly shared after the wedding. This is an important and personal decision. It must be made entirely between you and your future spouse.
The thought of creating a prenuptial agreement can be daunting. However, it is important that you are aware of its many benefits. These include:
- Identifying who will get which assets in the event of a divorce
- Protecting property that was accumulated before marriage or individually during marriage
- Minimizing conflicts that inevitably arise after a divorce
- Helping you feel at peace knowing your affairs are in order
- Minimizing potential expenses related to future court proceedings
- Avoiding the stress of a contested divorce
- Protecting you from your spouse’s pre-existing debts or debts that they accumulate during marriage
- Protecting the family business or any heirlooms or inheritances left behind by your family
Too often, we see clients that were thinking with their emotions, jumping in with both feet and ending up on the “losing end” of a divorce. A prenuptial agreement is a safeguard against potential future heartache, and managed the right way - makes both parties happy!