The Benefits of Signing a Prenup

Prenuptial agreements are becoming more common in the US, especially among millennials. This shift can be attributed to various factors, including the fact that Americans are getting married later and therefore accumulating more assets before marriage. In general, however, people are increasingly recognizing the benefits of signing a prenup.

Going into a marriage is an exciting transition; but no one wants to think of eventually separating from their spouse if it does not work out. While you should be hopeful for the future, you should also consider potential “what ifs” to reduce the damage to finances in the event of a divorce. One way to prepare for the worst-case scenario, giving you peace of mind as you enter this next stage of your life, is getting a prenup.

What Is a Prenuptial Agreement?

A prenuptial agreement is a legally binding document created between two people before they enter a marriage. The agreement establishes each person’s rights as to spousal support, dividing assets and dets, and other financial issues in the event their marriage were to end in divorce.

Why You Should Consider Getting a Prenup

There are many benefits to getting a prenup. Prenuptial agreements can help foster trust in a relationship and allow for more open communication about finances. One reason you may want to consider a prenup is if your partner has any debts you want to shield yourself from dealing with after marriage. If you will receive a significant inheritance, a prenup can protect the inheritance or estate in the event of divorce.

A prenuptial agreement can determine who inherits your money and property in the event of your death. Thus, another reason to sign a prenup is if either partner has children from a previous marriage whose financial future must be protected. If you want to leave your assets to your children rather than your spouse, a prenup and creating a last will and testament that mirrors the terms of the prenup is the best option.

Lastly, a prenup can also make the divorce process easier by clearly stating the terms of spousal support and asset and debt division. Having this agreement in advance of your marriage can help you avoid tumultuous contested divorce proceedings down the road if the marriage does not work out.

Call Moskowitz Law Group for Help Drafting a Prenuptial Agreement

These are just some reasons why getting a prenup may be right for you. Overall, prenuptial agreements safeguard your rights and assets as you enter a marriage, offering the added benefit of peace of mind. If you or someone you know would like to protect their financial future through a prenup, contact a family law attorney at Moskowitz Law Group to schedule a consultation.