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Is it Financially Responsible to Sign a Prenuptial Agreement?

Is it Financially Responsible to Sign a Prenuptial Agreement? Leave a comment

I am an economist and the founder and owner of Finance Blog Zone

prenuptial agreement

Wondering if a prenuptial agreement is right for you and your assets?

As someone with a fair amount of money behind you, it is natural that you want to do all that you can to protect your savings. All that you have worked for in life should be yours if you so choose. However, when the topic of love comes up, it is easy to get blindsided and make a decision that you might come to regret. 

When it comes to talking about a prenuptial agreement, then, many are unwilling to bring up the topic with their future spouse.

Why? Because they fear it might come across as money-oriented or crass. Yet today many people are choosing to go down the route of offering a prenuptial agreement. Worried about the ethics of asking aside, is it financially wise to open a ‘prenup’ beforehand?

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A Prenuptial Agreement Could Avoid Divorce Disputes

Whilst it might seem odd to engage in the act of marriage whilst thinking about divorce, it pays to plan ahead. Many people rush headlong into a marriage only to find they are not suitable for their partner long-term. This then creates typically expensive, bitter divorce disputes.

By having a prenuptial agreement in place, though, you make sure that everything is in place ahead of time. Now, should your marriage eventually fail, there is less wiggle-room on either party’s side to dispute. Now, you can pre-arrange how assets will be divided.

Know Where Both Parties Stand for the Long-Term

A prenup also offers some form of protection for both parties. In the case of a bitter divorce, both parties will do all they can to leave the other with nothing. With a prenup in place, though, it is easier for both parties to approach a divorce with clarity. Especially if one partner has more debt, or substantially more income.

This stops the need for months-long courtroom wrangles as everything is agreed beforehand. Now, should the worst happen and your marriage ends, you can avoid long-term battles and bitterness – hopefully!

This can even help to maintain a cordial, friendly relationship after the divorce completes.

Transparency and Honesty From Day One

Another huge boon of having a prenup is that you have total transparency from the first moment. Now, should anything change during the marriage, there is no need for anyone to accuse the other of hiding assets or being financially dishonest.

This allows for less confusion, too, as both parties know exactly where they stand without any need for confusion or arguments. Now, you can avoid having a relationship that feels clouded in deceit or uncertainty from its earliest days. Overall, this provides an added layer of security and trust that can give both parties a little bit of extra comfort as the marriage unfolds.

Protect Both of Your Futures

Lastly, since so many marriages do end in divorce, a prenup ensures that both of you are taking the less significant financial risk. If you both worried in the past about getting married due to the potential risks financially, this can offer some peace of mind that could stop the worry and bring an end to the debate about even getting married.

With help from an expert in drafting a prenuptial agreement, like those at the Viola Law Firm, you can make sure that your future is much easier to ascertain and plan for. 

Know If a Prenuptial Agreement is for You

From protecting both parties to offering clarity in the event of divorce, then, prenuptial agreements are very wise for your long-term financial health. Keep that in mind as you think about your next steps.

I am an economist and the founder and owner of Finance Blog Zone

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