Prenuptial, it isn’t the most pleasant conversation to have while planning out your wedding. For many cases though, a prenup is essential to have. For others though, they can just as easily do without one.
A prenuptial agreement is a legal document that predetermines someone’s property holdings before marriage. The purpose is that someone is ensuring the disposition of the property in case the marriage ends in divorce. Not only that, but it also protects one spouse from the other spouse’s debt if they have any prior to marriage.
How do you know you should get a prenup before marrying? It varies couple to couple, depending on their financial situation, investment account levels, and anything one feels that it should belong to them regardless of whether the marriage survives. However, there are a few important guidelines to consider.
If you’re wondering about prenuptial and other legal matters around marriage, contact your divorce lawyer in Scottsdale for information.
A Prenup Can Usually Speed Up the Divorce Process
Although you don’t enter a marriage with the intent of getting divorced, it can be beneficial to know that a prenup can speed up the process just in case. Without one, you’re likely to spend months in the courtroom discussing legal matters, marital property allocations, and having to decide who gets what.
By signing a prenup, you won’t have to go through the fighting and arguing over the property. Instead, you can simply the matter and move on with your life a lot quicker.
You Can Reach a Fair Deal
Unless your divorce is uncontested and mutual and the two of you can easily agree on who gets what, deciding who gets certain properties from the marriage can be time-consuming, challenging, and frustrating. This is when a divorce can get real ugly quick.
A prenup, if deemed valid by the Court, saves you from all of this. The legal document helps you and your spouse reach a fair arrangement in case of a divorce, usually in a swift and rapid manner.
Protects You From Debt
In today’s world, debt is more common than ever. Signing a prenup can protect you from your spouse’s debt that he or she incurred before the marriage. The legal document will outline what happens with the debt if a divorce occurs. If the debt was not your debt, to begin with, it could save you a lot of money in the long run.
The Downside to a Prenup
One of the most obvious downsides to a prenup is the lack of romance they instill. They can cause issues in a relationship. The partner being asked to sign a prenup may feel like the other partner may not trust him or her. This lack of trust could continue and end up damaging the relationship beyond repair.
Another reason is that many feel a prenup is basically a plan for heading to an ultimate divorce. When someone asks for a prenup, they may not believe the marriage will last. Again, this can cause issues in the relationship, whether or not the person asking for the prenup believes this.
Before asking for a prenup, seriously think about whether or not your situation needs one. Asking for one when the other partner doesn’t agree on it could end up being a deal breaker before the wedding even happens. Prenups provide protection and help settle the worst case scenario, but they can also bring up unpleasant feelings and you may lose your fiancé.