Getting married? It is a time to focus on new beginnings and a future of possibilities. It seems like a prenup would somehow burst that bubble if you brought it up, but in today’s society, they are valuable. They are also growing in popularity. If you are looking for a few reasons you should get a prenuptial agreement, consider the following.
The Benefits of a Prenup
More people than ever are having the hard talk about prenuptial agreements and realizing the value they bring to any relationship. A study completed by The Harris Poll revealed about 15% of Americans have signed one. About 40% of those individuals were between the ages of 18 and 34, indicating that today’s younger generation is more poised than ever to invest in this legal tool.
Why do it? There are some key reasons you should get a prenup, even if you are not wealthy or seem to have a lot at stake.
One Person in the Relationship Makes More Than the Other
One of the most important times to consider a prenup is when one person in the relationship is making substantially more than the other. Should a divorce occur, that party would be required to pay much more in spousal support, which could create a financial disaster that is hard to overcome.
There Are Children From a Previous Marriage
A prenup can also help in situations where one party has a child from another relationship. While a prenup does not dictate factors such as child custody or child support, it can help parties protect assets to ensure that non-marital children are included in such decisions.
There Is a Significant Inheritance Expected
If you believe that you will inherit a significant amount of money at some time in the future, you may wish to create a prenup that limits access to those funds. Also, note that a prenup can provide protection if you plan to leave behind a substantial amount of money for your children. With it in place, you can expect to be able to protect some of those assets for future generations.
You Own a Business
As a business owner, you do what it takes to keep it afloat. A divorce can be costly and even a disaster. Without a prenup, it may be necessary for you to split or sell the company should a divorce occur. That not only jeopardizes your long-term career goals, but it also puts the business itself at risk of failure should there be a division in assets.
Find Out How a Prenup Can Help You
Even if you do not have any of the previous situations in your current lifestyle, there are many reasons you should get a prenup now before you enter into a long-term relationship and find yourself struggling to end it. No one wants that, but it can occur. Take steps now to protect your financial future by calling the office of Martin Family Law Group. Let us help you to put a prenup together that represents the best intentions of your relationship and your future goals.