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What do you know about determining whether you need a prenup?

| Feb 9, 2021 | Prenuptial Agreements |

You and your partner plan on getting married in Florida, and you have a lot to tend to. Is discussing a prenup on your pre-wedding checklist? 

To help you determine whether you need a prenup, see what CNBC says on the matter. Save yourself a tough conversation if it makes little sense to have it. 

Money matters

If a few tax brackets separate you and your spouse, you may benefit from talking to your partner about signing a prenup. The same applies if either of you possesses significant assets. If you and your spouse make roughly the same salary and have the same amount of assets, your marriage may be OK without a prenup. 

Business matters

Do you or your partner have a business or stand to benefit from a family inheritance? If so, think about signing a prenup. Maybe you have a significant amount in a brokerage account you manage. If that account stands to appreciate a sizable amount during your marriage, a prenup may protect it if you and your future spouse split. 

Beyond your assets and income, think about how much a prenup costs. While prices vary depending on the specific financial situation and your geographic location, the price of a prenup may range from $2,000 to $15,00, possibly higher. Find out how much you should expect to pay for a prenup before deciding whether to get one. 

Relationship matters

Even if a prenup does not fit your marriage, your relationship may benefit from having the conversation. When conducted with tact and respect, discussions about prenups may help you and your partner broach tough topics with each other, something you likely have to do in the future. 

Protect your hard financial work and yourself with a prenup. Having a hard conversation may make your life easier. 

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