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6 good reasons for having a prenuptial agreement

Prenuptial agreements have become very popular and, contrary to what you might hear, not just for the wealthy. A prenup is all about communication between two people at an ideal time for mutual accord: when they are in love and about to marry.

With the help of an attorney, a prenup is often drawn up by couples who are realistic enough to understand that divorce or the unexpected death of one spouse could actually happen. If either of these events should occur, the agreement will help to make a stressful time easier to bear.

With that in mind, here are six good reasons to have a prenup: 

  1. You earn considerably more than your partner: The prenup can set a limit on the amount of alimony you would have to pay following a divorce.
  2. One partner brings a high debt load: Perhaps your intended is still bogged down with college debt. The prenup can ensure that you will not be responsible for this if the marriage ends.
  3. You are a business owner: With a prenup, you can ensure that your partner will not be able to acquire any part of your business if you should divorce.
  4. You are remarrying: If you have been married before, you may have children. In your prenup, you can include provisions for the care of your current and previous families if you should pass away. You can also provide instructions for the distribution of assets.
  5. You want to protect your estate: A prenuptial agreement can prevent your partner from overturning your estate plan in the event of your death.
  6. You plan to quit work to raise your children: Giving up your job to raise a family will leave a large gap in income. The prenup will spell out how the financial obligation of child rearing will be shared.

Managing what you both bring to the marriage

It is traditional for the prenup to determine how to deal with the assets you both bring to the marriage, and it can do the same with reference to a large financial obligation. You can rely on an experienced family law attorney to help you prepare an agreement that best suits your circumstances.

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