Monday, April 22, 2019

Pitfall Of Not Having Prenuptial Agreement

Pitfall Of Not Having Prenuptial Agreement

I doubt there is anyone who would not be aware of what a prenuptial agreement. There has been so much of hue and cry over their pros and cons. This conversation sounds familiar, “Oh My God! You are talking about a prenup agreement!!! Are you people out of your mind, you haven’t even started living together and already thinking of splitting up.”Did someone say that to you? Or wait a second; is that one of your lines? Then I guess it is time for you to reconsider. You need to get the facts right first to judge the merits of this legal agreement.

I quite agree that it might sound unromantic for those madly in love. This still doesn’t change the fact that if you have been practical enough to think when to get married and who to marry then why not think beyond that. This is not a contract expressing distrust but one securing both of your futures and having back-up plans to avoid any legal hassle that, God forbid, could occur. There is another myth associated to it that states that prenuptial agreements are for millionaires only. No, they are for everyone and anyone who likes to keep complications away from their life. You surely don’t want to fight about ‘this is mine and this is yours’. So, before the argument starts itself, you can resolve it by having a reliable agreement in place.

Be Prepared

A prenuptial agreement helps you sort out your financial matters and come to a mutual conclusion. This formal agreement creates a platform of understanding between the future bride and groom. If you know what to expect you surely won’t try to grab share of each other wealth. This will surely help you gain mutual respect. Ensure a properly executed prenuptial agreement and control your own personal assets, this is called smart planning.

Protect Everything                       

Prenuptial agreement protects you from almost everything and resolves things before they begin. It can surely avoid the ugly monetary fights at the later stage of life. Consider this, if one spouse brings certain amounts of debt to marriage, this agreement will ensure that the other spouse assets are protected in case of the debts incurred outside the marriage. Everyone wants to safeguard their family heirloom and family business and a prenup agreement will guarantee that.

Reduced Divorce Costs

Most of the time a divorce gets ugly only when there is money or kids involved in the picture. Now, if you have a prenuptial agreement there is not much left to fight about. You don’t have to stress yourself and help can avoid a very expensive divorce proceeding. The distribution of assets is mentioned in detail on paper and is binding on both the sides.

Child Custody

One critical reason to get your agreement in place is to make sure that your children are spared of a messy divorce. This will shield the children from being used as leverage and you can also eliminate the factors dealing with the legal custody of the kids.

There are other minor grounds too for you to consider a prenuptial agreement like earnings, business ownership and saving legal costs. It is a foolproof method to ascertain that your marriage does not end up in a messy divorce. Heard of the phrase, “Hope for the best and be ready for the worst”, haven’t you?

Today’s guest post was submitted by Keith Shelby. He likes writing on topics that are close to his heart. He feels homes are no longer safe and urges people to keep their important documents like property and marriage records safely in a bank.

marriage Pitfall Of Not Having Prenuptial Agreement

marriage1 Pitfall Of Not Having Prenuptial Agreement

Photo Credit: MorgueFile


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