UNDERSTANDING PRENUPS: 5 Benefits of a Prenuptial Agreements
Modern marriage isn’t simple, especially as blended families and non-traditional relationships become the norm. Because of this, more protection is often needed to keep marriages stable and fair for everyone involved. Prenuptial agreements or “prenups” don’t sound very romantic– in fact, they may even feel like you are expecting the partnership to fail. The truth is that a prenup could actually save your marriage before it even begins. Read on for Heritage Law’s top benefits.
#1: Build on trust
Some may say that a prenup is inherently distrustful, but many find it can increase the level of honesty and sincerity. Being up front about finances and expectations going into a marriage is a strong foundation for the health of a long-term relationship.
#2: Reward sacrifice
One or both partners may be giving up a lucrative career or significant earning potential when entering a marriage. Due to this, it is often better for the relationship if those who sacrifice are guaranteed financial protection.
#3: Protect family
Care, upkeep and inheritance for multiple families can be tricky– especially if either or both partners have been divorced. Prenuptial agreements don’t just protect the members of the marriage, they can also extend to anyone they consider family.
#4: Debt protection
Prenups are not merely for the wealthy, they can also protect someone with a partner who owes money. Agreements commonly account for the difference in assets, investments, savings and–yes– even debt! If you don’t want your spouse to assume your obligations in the case of divorce or death, consider a prenuptial agreement!
#5: Keep a cool head.
Both marriages and divorces are events that typically happen with a lot of emotion. Putting things in place beforehand with a prenup can help you be certain that cooler heads will prevail. People that choose prenuptial agreements often report happier outcomes when all the dust has settled.
As you can see, prenups are more than just a strategic move among wealthy power couples– they are sincere acts of kindness designed to keep emotional decisions fair and legal. If you have any questions or concerns about prenuptial agreements, contact or visit Heritage Law today!