Contrary to popular belief, a prenup does not signify a lack of faith in the marriage. If anything, it provides financial transparency and a foundation of trust that couples can build on.
Not all marriages work out, and having a prenup provides a soft landing in case things go south. Therefore, if you are thinking of tying the knot, you should consider having one for various reasons, as discussed below.
You will have control over your assets and where they will go
A prenup can be a valuable tool in managing your assets in the marriage, especially if you have children from a previous marriage. When you die, you can specify what your children and spouse will end up with in a prenup.
If you don’t have a prenup, your children may be left with much less since your spouse has the right to claim a more significant part of your estate.
A prenup minimizes conflict during divorce
With a prenup, property division following a divorce will be less complicated since everyone knows what to expect from the whole process. In addition, courts recognize a prenup as a legal agreement and will enforce it as long as it is valid.
Addressing alimony concerns
If you earn more than your spouse, you may have to pay spousal support once you decide to divorce. Usually, the amount is pegged on several factors such as the length of the marriage, your income level, and the standard of living your ex was accustomed to, among others. With a prenup, you can have provisions that will protect your interests regarding alimony.
You need a solid prenup agreement
It is important to be aware that prenups can be challenged and invalidated by the courts. Therefore, it is necessary to have a dependable legal agreement with no loose ends that can be exploited.