It is a sad reality of modern times that the number of divorces is increasing. While marriages are rooted in romance, they are also social and legal contracts. Divorces can lead to vicious fights between estranged couples. Property division, child support etc. have the potential of becoming major points of conflict. Many coupes now opt for the practical approach of signing prenuptial agreements in order to prevent acrimonious divorce proceedings.
At the very outset, premarital wealth may be kept out of communal property under a prenuptial agreement. Premarital debts, such as student loans, can also be kept out of shared liability. Prenuptial agreements, popularly known as prenups, can often help in such cases.
Furthermore, a child's inheritance can also be protected with such agreements. Many times after having children, one spouse may choose to become a stay at home parent, making the other the sole breadwinner. Prenuptial agreements can protect both spouses in these cases. While the former can be protected for sacrificing a lucrative career, the latter may be protected from parting with major assets that they earned. Prenuptial agreements can also help protect the assets of older couples entering into second or third marriages.
An individual may find it beneficial to consult a professional in order to help draft a prenuptial agreement. A prenuptial agreement may also discuss specific conditions such as infidelity etc. Thus, although seemingly unromantic, such agreements may create accountability and greater stability not only in the case of a divorce, but also within the marriage. The romantic aspect of the relationship is very important and the practical side is just as important.
Source: FindLaw.com, "Pros and Cons: Premarital Agreements," accessed on Aug. 14, 2014
Source: FindLaw.com, "Pros and Cons: Premarital Agreements," accessed on Aug. 14, 2014
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