Reasons You Need a Prenuptial Agreement

When people hear the words prenuptial agreements, they often think about divorce. However, it isn't just about divorce. It is about protecting yourself (and your potential spouse). You aren't going into the marriage thinking that it is all going to fall apart.

Here are some reasons that you need a prenuptial agreement.

It gives you time to talk about your finances before you get married.

The truth is that financial problems are a big cause of divorce, when talking about a prenup, you should use this as a chance to discuss your finances. This can be really eye-opening, so you should go into it with an open mind. This will help you prepare for your financial future.

A prenuptial agreement will protect the partner that has more money than the other one.

If you have significantly more money than your partner, you may want to protect yourself, just in case. If you don't have a prenuptial agreement, your partner could end up getting a good percentage of your money if you decide to split. In order to get through the divorce with all (or most) of the money that you started with, you need a good prenuptial agreement in place.

The same can be said about debt.

If one or both of you have a large amount of debt, your prenuptial agreement will protect you both from paying someone else's bills. It may also protect your credit, if you end up getting divorced.

A prenuptial agreement can also protect any property that one of you may own.

Whether one of you owns a home or some sort of family heirloom, your prenuptial agreement will make sure that you get to keep it in the event of a divorce. What is yours before the marriage will be yours after it ends.

If you make less than your spouse, a prenuptial agreement will allow you to get spousal support after the marriage ends.

In this day and age, most families need two incomes in order to survive. Sometimes, that isn't even enough. If you are worried about supporting yourself if something happens to the marriage, you are going to want to make sure that you are able to get spousal support.

It will also help you if you have children.

If you decide to have children, one of you may choose to stay home to raise them. However, if you end up getting divorced, you may be forced to go back to work. This can be really hard, especially if you have been out of work for several years. By having a prenuptial agreement, you can ensure that both you and your children are going to be cared for if the marriage doesn't work out.

If you own a business, you need a prenuptial agreement to protect it (and yourself).

If you split, your spouse may be entitled to half of your business. Even if he or she didn't have anything to do with it, you could end up paying him or her as long as you keep your business open. If you don't want to have to deal with that, protect yourself with a prenuptial agreement.

Prenuptial agreements are designed to make divorces go more smoothly.

If you have a prenuptial agreement, your divorce shouldn't take too long. You already have plenty of things hashed out, so you won't be facing a lot of drama. You already know who is going to get what because that was decided before you even tied the knot.

If you are on another marriage, you need a prenuptial agreement.

Most people skip the prenuptial agreement for their first marriage. However, if you are getting married again, you need to think about getting one before you walk down the aisle.

This is even more important if you have a family from your first marriage. If you want to protect your children and get what they deserve, you need to sit down with a lawyer before you get married again.

Though people assume that only rich people need prenuptial agreements, that is simply not true. It is just as important if one (or both) of you are in debt. Either way, it can be helpful because it helps to get the two of you talking about finances, which are one of the main reasons that people get divorced.