A prenup is an agreement that is signed before marriage that specifies the process in case the marriage results in a divorce. It's a wise decision to sign a prenup is the ensure the financial stability and future of the well-off member in the marriage. If a marriage ends, and the none of the individuals had a prenup, then the consequences of financial settlement proceedings of a divorce can be disastrous for the financial well-being of the other spouse.
So, it's wise to get a prenup and here are six good reasons to get one:
The saying,” til death do us part,” may sound convincing on paper, but in reality, it's whole new story. According to statistics, almost half of all marriages end up in a divorce. You can't be sure that your marriage falls in the other half. So, it's safe to play the odds.
Divorces can damage your credit history as well as your financial future. I am not exaggerating as it's true that divorces can ruin your credit and destabilize your finances. If you don't have a prenup, there is a high possibility that you may have to pay for alimony, pay for ex-partners debts, and pay for child support in case you have kids from your former marriage.
Prenups are helpful during the divorce proceedings as there will be less arguing and less frustration about which parties gets what and how. Divorce are hurtful and unfortunate and are emotionally stressful. An avenging spouse can conspire to take everything from you, and both your personal feelings and finances are affected. Having a prenup will minimize such stressful circumstances.
Typically, a divorce proceeding will need months before the final arrangements and settlements are made. And they can get even lengthy with a prenup. Both parties will require spending months in court discussing your marriage and other related issues, but a prenup agreement will help to speed things up.
Prenups ensure everyone has their fair share. Signing up a prenup agreement is easy. In the process of termination of marriage, a prenup helps is reaching a fair agreement between the wife and husband as long as both are satisfied with the proceedings. But, if the marriage is nullified because a spouse is found of guilty of cheating, then the cheated spouse will receive most the financial assets and other properties. So, don't cheat when you have a prenup.
Marriages are lovely, bonding affairs. But sometimes due to failing to keep up with expectations and unreconcilable differences between the husband and wife, a divorce becomes inevitable in such a situation. This can be stressful, but prenups lessen it. You see when individuals are prepared for an unknown and upcoming disaster or any event; they feel less stressed. Think of a prenup as an insurance policy that keeps your prepared should your happy marriage ends in the future, and both parties are protected.
Prenup helps individuals prepared so that they can get a fair settlement if a couple decides to end the marriage. Even though you are in a happy and stable marriage, you can't be entirely certain that your marriage won't end in a divorce. So, sign a prenup, it's an easy and smart thing to do.