Prenuptial agreement reasons why

Couples with or without children, wealthy or not, may simply want to clarify their financial rights and responsibilities during marriage. Avoid arguments in case of divorce. Or they may want to avoid potential arguments if they ever divorce, by specifying in advance how their property will be divided, and whether or not either spouse will receive alimony.

A few states won't allow a spouse to give up the right to alimony, however, and, in most others, a waiver of alimony will be scrutinized heavily and won't be enforced if the spouse who is giving up alimony didn't have a lawyer.

Get protection from debts. Prenups can also be used to protect spouses from each other's debts, and they may address a multitude of other issues as well. If you don't make a prenuptial agreement, your state's laws determine who owns the property that you acquire during your marriage, as well as what happens to that property at divorce or death.

Property acquired during your marriage is known as either marital or community property, depending on your state. State law may even have a say in what happens to some of the property you owned before you were married. Under the law, marriage is considered to be a contract between the marrying couple, and with that contract comes certain automatic property rights for each spouse.

For example, in the absence of a prenup stating otherwise, a spouse usually has the right to:. If these laws -- called marital property, divorce, and probate laws -- aren't to your liking, it's time to think about a prenup, which in most cases lets you decide for yourselves how your property should be handled.

As prenuptial agreements become more common, the law is becoming friendlier toward them. Traditionally, courts scrutinized prenups with a suspicious eye, because they almost always involved a waiver of legal and financial benefits by a less wealthy spouse and they were thought to encourage breakups.

As divorce and remarriage have become more prevalent, and with more equality between the sexes, courts and legislatures are increasingly willing to uphold premarital agreements.

Today, every state permits them, although a prenup that is judged unfair or otherwise fails to meet state requirements will still be set aside. When it comes to property division, prenuptial agreements can help decide how to divide everything from your home, vehicles, and furniture.

You can also decide who will take care of any debt that either party brings into the marriage. Prenuptial agreements can help couples get organized financially, and protect those who are marrying someone with a lot of debt. Protect Children From a Potential Divorce. A prenuptial agreement can help protect your children in the event of a divorce.

A good prenup plan will have provisions put into place that state how much time each parent must spend with the children after a marriage has ended and what type s of visits they should be allowed to make.

It can also help protect your children from financial instability. A prenup can also help protect children if one parent dies or when one spouse wants to move away. Prenuptial agreements are an often overlooked way to avoid the emotional turmoil of divorce. A prenup can help keep things fair for both spouses during the relationship.

Without a clear agreement, spouses might find themselves fighting over these issues in a divorce. But, hey, did you sign up a prenup? To those people who can understand what a prenup does, let me explain, so when you get married to the girl or boy of your dreams, you do have a prenup prepared.

Traditionally, a prenup is an agreement that is signed before a marriage and constitutes the process of the marriage in case it ends up in flames or say divorce. The main reason for signing a prenup is to ensure the financial stability of the significantly well-off member of the union. Statistics say that almost half of all marriages end up in divorce. So, I think you should pay more attention to the numbers. I am not exaggerating when I say divorce can destroy your finances and your financial future.

Divorces can ruin your credit and financial stability and, in turn, maybe your life, if up on the wrong side of it. If you have a prenup, the terms of the separation, there will be less bickering, less frustration, and less arguing about who gets what.

Divorces are unfortunate events, and emotions run high, so a vengeful spouse can try to take everything. Both your finances and feelings will be hurt. A typical divorce process can last months with endless fighting and stressful situations, and some people get bushwhacked.