A prenuptial agreement is a kind of contract entered into by two individuals before their anticipated marriage. This agreement establishes the property and financial rights of each spouse if they later divorce. Folks in Spokane have probably heard of prenuptial agreements for movie stars and other high-profile people. But, prenuptial agreements can benefit and have benefited a wide variety of people of different backgrounds. This blog post will provide a quick summary of these potential benefits.
For starters, a prenuptial agreement can prevent one spouse from taking on the debts of the other spouse, in the event of a divorce. This can be helpful if one of the spouses racks up a lot of student loans or other kinds of debt. The other side of the coin is when one spouse has assets that they wish to protect in a divorce. A prenuptial agreement may help this spouse protect their assets.
Another potential benefit not to be overlooked is that a prenuptial agreement can simplify the property division process, if the spouses later decide to divorce. Divorce can be tough enough as it is, and spouses may decide to keep it simple if it turns out later down the road that their marriage needs to be dissolved.
The decision to enter into a prenuptial agreement can be a very serious and important one, and it is a decision that should be made after a significant amount of thought. Prenuptial agreements are generally not considered to be romantic.
Depending on the circumstances, proposing a prenuptial agreement could foster a sense of mistrust between to prospective spouses. Still, many couples choose to use prenuptial agreements without problems. It depends on one's specific situation.