You are anticipating the big day, its not about money, its about love and out of nowhere, you are asked to sign a prenuptial agreement. You dont want to make an issue of it.
But the very idea of being asked to do this has left you confused and upset. Don’t be insulted, if your future partner wants you sign a prenuptial, here is prenup may just make sense for you.
Why Prenup Make Sense for Both Parties
- Prenup can Create A Solid Base for Your Relationship
Prenup allows both of you to sit down, put your financial cards on the table and draw up a plan that will be the foundation of understanding between you and your future spouse.
Since both parties have a responsibility to contribute to the final prenup. The one with the greater financial assets does not rule. If they do, it will cause resentment and result in a weak foundation to what you hope is a lifelong relationship. The point is consideration, based on fairness and not greed. Each person has needs that must be addressed. If you both get what you need (Not Necessarily What You Want) you have a successful prenup.
- Prenup can Boost up Your Financial Position
Even if you are not the one with the greatest assets, the prenup can protect you as well and not leave you out in the cold. So discuss and negotiate what your position should be. When someone loves you and wants to marry you, could you ever be in a stronger position for generosity.
In future, should you get a divorce and you don’t have a prenup. Your once great love will not be in a generous mood and may give you as little as possible.
Prenup for great majority of couples means, the wealthy partner will cover living expenses. The person with the least money or earnings usually gets to keep their assets in their own account to do with as they wish. From the very beginning of the marriage there could be an outright transfer of money or assets. Usually increasing as the years go by. This is a form of protection if the wealthy spouse dies first. Certainly your new mate will want to protect you in the event of their death.
There are differences and variations in prenups as there are in people. Everyone has to customize their agreement to meet their specific needs. You must respect each other above all to work out the best possible prenuptial agreement.
- Prenup protects You if Your Spouse Dont Work After Marriage
For the most part, assets or inheritances brought into the marriage are not considered joint assets. But the day you get married the clock starts ticking. So if you marry a wealthy person who doesn’t work, can’t work for any reason, there may not be much of a contribution to your personal account, if any. In the final scene you could be shut out with nothing. Could there ever be a stronger reason for a prenup!
- Don’t let the state decide for you.
Their interests are different then yours. When you have a prenup you and your future mate have decided what you want and they are very different from what state law may or may not give you. If divorce comes you may not be happy, but you will be protected with a prenup.
- Most importantly Get Legal Advice
You must each have your own lawyer to represent your personal interests. Find a lawyer who specializes in this area. Look for someone with a lot of experience and not someone right of law school.
It’s a trust building process and you don’t want it to be adversarial. Don’t go into this with 'what I can I get if things fall apart'. It’s an opportunity for bonding.
Remember you’re getting married, and you’re in love! And that’s Wonderful! Just cover your assets!
