Do the rising statistics of failed marriages make you consider prenuptial agreements? Are prenuptial agreements an option only for the rich?
Today, prenuptial agreements are not just a tool to aid you in unforeseen circumstances like divorce or death of your spouse. You could take advantage of a prenuptial agreement to ensure that you can choose your nominee to receive your assets instead of a new spouse in circumstances of your death. Don’t look at prenuptial agreements as a cold and unromantic gesture; it could help protect your financial well being.
Your marriage is a fulfillment of a long cherished dream. It is a time to soak in the happiness and look forward to building a great future with your love. Creating a prenuptial agreement in this situation - it’s probably the last thing you want to do. Discussing how you can split your assets and deal with your debts could be a hard thing to do.
So how do you find out if you should have a prenuptial agreement? If you have large savings, own a business, have inherited huge property, or if you are a person who earns substantially more than your spouse-to-be, a pre-nup would be a wise choice. In case of a divorce or separation, isn’t a prenuptial agreement a better option to settle your issues rather than allowing the court or others decide what each party gets after a divorce? Isn’t it better to take practical decisions in the good times instead of troubled times when the relationship is strained?
While preparing your prenuptial agreement, make sure that you:
Declare all your assets honestly. Don’ t deceive or mislead while declaring your assets because this would lead to a null/void agreement.
Draft a pre-nup that is fair and equitable to you and your spouse. Make sure that you don’t leave your spouse in a situation where he/she is unable to support himself/herself.
Get a separate and independent counsel for your prenuptial agreement.
It’s quite unpleasant to consider prenuptial when you are certain that you have met the person you want to spend the rest of your life with. Do you agree? Do couples need to look ahead and enter prenuptial agreements? What is your take on prenuptial agreements? Is it the sensible thing to do?
You may also be interested in :