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Prenuptial agreements can be a wise choice for any couple

Couple in Virginia probably already know the statistics showing that almost half of all marriages in the United States end in divorce. The dissolution of a marriage can bring forth many serious questions. Among such subjects including child support, alimony or custody issues, property division is often considered a hot topic from a financial standpoint. When either or both partners bring significant assets into a marriage, prenuptial agreements might be one of the decisive legal ways to protect those assets in the event of a divorce.

A prenuptial agreement can be described as a contract, which couples enter into before getting legally married. The document can be used to delineate things such as distribution and division of marital assets, and spousal support, and can go as far as to lay down financial and non-financial duties and responsibilities to be adhered to during the course of the marriage.

Marriages where one partner is bringing in significantly more assets than the other or where there is family money involved are just some examples where a prenuptial agreement might be necessary. However, there could be other reasons for seeking a prenuptial agreement. Partners can use such an agreement to keep portions of their finances separate.

From a more general standpoint, a prenuptial agreement might not be just for the wealthy. It could also work favorably for any to-be married couple from a broader perspective. Through the course of setting up the terms in the contract, a couple may be forced to discuss and deal with uncomfortable questions that could ultimately yield greater transparency and better communication during the marriage.

Source: USA Today, "Prenups: Not just for the wealthy", Elizabeth Renter, Dec. 28, 2014

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