When is a Prenuptial Agreement Needed?

Prenuptial Agreement

Unfortunately, the lives of celebrities continue to dominate the news due to the drama that surrounds their marriage(s), the amount of wealth that they procure, and the problems that go with them. One of the terms that is often thrown around is that of a "prenup." This is short for a prenuptial agreement and is an agreement that takes place between a couple prior to marriage. This often specifies terms of the marriage or what will happen to the assets should the marriage fall apart. Many people avoid this agreement because they feel that it adds stress to an already stressful situation; however, there are some situations where this agreement is needed.

If One of the Spouses Has a Large Amount of Money

The most obvious situation where this agreement might be needed is if one of the spouses has a significant amount of money, specifically more than the other spouse. Pressure from the family could imply that the couple is only marrying for monetary reasons. While this could be considered rude, the doubt could be taken away if a prenuptial agreement is signed specifying what happens with the money in the event of a divorce. This acts to protect the property that is present prior to marriage.

Assigning Debt Appropriately

While it is important to specify the assets in the marriage, it is also important to specify debt. If debt was present prior to the marriage, it is important to ensure that this winds up with the appropriate person if the marriage does not last. This is what a prenuptial agreement can do. It would not be right to saddle the wrong person with debt in the event of a divorce.

Any Other Special Arrangements in the Marriage

Every marriage and relationship is different and some people have unique circumstances surrounding their marriage. When this happens, it is helpful to specify these rules and procedures with an agreement prior to marriage. This will fix and doubt that people might have surrounding the upcoming marriage itself.

Signing a prenuptial agreement is never easy and it can often be a confusing situation. When this is necessary, it is important to have a compassionate lawyer look over the agreement to make sure that everything that needs to be in the agreement is present without loopholes. Do not be afraid to ask for help when it is needed.

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