7 Truths About Prenuptial Agreements
A prenuptial agreement is a contract that specifies how wealth, possessions and property will be divided in the event of a divorce. If you are planning to get married, then you should definitely consider getting a prenup. Below is a list of truths that will make you say yes to getting a prenup.
Fifty Percent of Marriages Eventually End in Divorce
Most people have very high expectations for their marriage. They believe that they will be with the person for the rest of their life. Sadly, staying together is not the reality in many cases. It is estimated that half of marriages will end in divorce. No one wants to think about divorce. However, dealing with the pain of divorce will be a lot easier if you prepare for it. One of the ways that you can prepare for a possible divorce is by getting a prenup.
A Prenup Can Protect Your Business
Many people lose everything that they have when they get a divorce, and that includes their business. You can protect your business by signing a prenup. A prenup is especially important if your business is your primary source of income.
A Prenup Can Protect You From Debt
Most couples do not wake up one day and decide that they are going to get a divorce. A divorce is usually the result of a combination of issues that occurred over time. When people are in a stressful marriage, they often make poor decisions. Racking up credit card debt is one of the poor decisions that such people often make.
If your spouse racked up credit card debt, then you may also be the one who is responsible paying for it. However, a prenuptial agreement can protect you from debt that your spouse has incurred.
A Prenup Can Help You Get a Faster and Cheaper Divorce
Most people who are getting a divorce want to get through it as soon as possible so that they can move on with their life. However, it can sometimes take years to finalize a divorce when the couple cannot come to an agreement on how the property and assets should be divided up.
You will probably be able to get a faster and cheaper divorce if you have a prenuptial agreement. Divorces are a lot easier if you already know how things will be divided up.
People Have Different Spending Habits
Opposites sometimes attract. While one person may be frugal, the other person may spend excessively. A prenup can protect the frugal person’s finances.
Finances Are the Most Common Thing that Couples Fight About
Anyone who has been married for a long time will tell you that marriage is not always a walk in the park. Fights can happen for a variety of reasons. One of the most common things that married couples fight about is finances. Financial problems can be a huge source of stress in a marriage. In fact, financial problems are often cited as a reason for divorce.
Many People Stay in a Bad Marriage Because of Money
There is an old adage that says, “It’s cheaper to keep her.” Even though financial problems can lead to a divorce, many people do not want to leave because of money problems. Some people believe that it is better to stay in a bad marriage than to go through the financial pain of a divorce.
Staying in a bad marriage can make both of the people involved miserable. It can also have a negative effect on the children. There is no need to stay in a bad marriage just because of money issues. A prenuptial agreement can prevent you from suffering financial ruin in a divorce.