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What are some reasons why a prenuptial is beneficial?

On Behalf of | May 17, 2022 | Family Law

As your wedding day gets closer, you think about all the tasks you need to complete and plans you need to finalize.

One document you may not think of is writing a prenuptial. This agreement typically outlines who gets what assets in the event of a divorce. Discussing this idea with your spouse can help you both feel more secure in your choice.

Prevents you from additional debt

According to Psychology Today, one important reason some people seek out a prenuptial is to avoid a serious amount of debt that can happen once a marriage is official. If your spouse owes a lot of money, then you are likely legally responsible for this debt as well once you enter into marriage.

This can hurt your chances of supporting yourself in the future and may even prevent you from being able to buy a house.

Helps you retain your assets

When it comes to financial assets like bank accounts or savings, you could outline and include what responsibilities each spouse has in a prenuptial. If you have children from another marriage, you may want them to inherit your heirlooms and any finances you have if you die.

Writing specific instructions for what property and assets of your own you want to keep in a divorce is important as you craft a prenuptial.

Allows you to protect your business

If you own a small business, you may feel protective of what you have spent time and energy building up. A natural next step is to want to write in a prenuptial that you should keep your ownership of it if you go through a divorce.

Learning more about prenuptials and what you can include in them can help you decide what to do.