4 Benefits of a Prenuptial Agreement
The idea of asking your future spouse for a prenuptial agreement is not the most romantic thing in the world. However, a prenuptial agreement can save you a lot of time and money if things don’t end up working out in your marriage. No one goes into a marriage thinking that they will get divorced, but the statistics show that it is always a distinct possibility. If you have ever gone through a divorce before or know someone that has, they will often let you know how much they wish they had gotten a prenuptial agreement. Let’s take a look at 4 benefits of a prenuptial agreement below.
1. Protect Yourself from the Debts of Your Spouse
One of the big benefits of getting a prenuptial agreement is that you can protect yourself from the debts of your spouse. That means if your spouse has accumulated a lot of debt during the marriage, you can avoid being held responsible for their debts in the event of a divorce. This is a huge advantage, especially because financial concerns tend to be a leading cause of divorce. Most states view debts and assets as community property, which means in the event of a divorce you might be on the hook for your spouse’s debt without a prenuptial agreement.
2. Divorce Will Be Much Easier
You never go into a marriage thinking about divorce, but you never know how things will turn out with your future spouse. If you have a prenuptial agreement and do end up getting a divorce, you will benefit from a much smoother legal process. That’s because a prenuptial agreement provides details on the division of assets that both parties have agreed to already. Instead of spending months in court trying to get everything squared away from a legal standpoint, the prenuptial agreement will help you move forward much quicker. If you have any questions about prenuptial agreements or how they can be beneficial, reach out to The Johnson Law Firm & Associates today.
3. Helps Your Children If You Remarry
Another benefit of getting a prenuptial agreement applies to people that are getting remarried and have children from a past marriage. The prenuptial agreement allows you to protect the property rights of your children when you remarry. That way, you know your children will still get their inheritance after your new marriage is official. Things can actually end up getting a lot more complicated in these types of scenarios without a prenuptial agreement, so keep that in mind if you are thinking about remarrying in the future.
4. Prevents the State from Dividing Your Property
If you don’t have a prenuptial agreement, the division of assets will be decided by the court. That means you don’t have control over the final result. Getting a prenuptial agreement can help you prevent the state from dividing your property. This is a huge advantage if you ever get a divorce later on down the road.