A parent wants to protect children from an earlier marriage. A business owner needs to clarify the future of the enterprise for partners or employees. A person has a big inheritance coming. There are many obvious reasons for a prenuptial agreement, but some of the lesser-known reasons apply to everyone.
The idea of a prenuptial agreement can be contentious between fiances, but there are no drawbacks to a contract that safeguards individuals' futures. No one gets married thinking about how to handle its end, but there are some people who are more likely to enjoy the security that a prenuptial agreement provides.
People who have been around the block a few times may say that careless love is for the young. The youngest generation to be married right now, however, is being less careless with love than their parents may have been.
Prenuptial agreements can cause tension for an engaged couple. Everyone wants to think that their marriage will be bulletproof and there is no point in preparing for a future when it is ending. Although it is often difficult to create one, agreements often give more security than trepidation to new couples.
Prenuptial agreements are widely considered a good idea, much in the same way that wills can avoid disagreements between surviving family members. There is something valuable in having the specifications of a relationship clearly spelled out for all parties to understand.
You want to get a prenuptial agreement, and your significant other has agreed to it. Your only concern, though, is simply setting things in stone when your lives may significantly change in the years to come. Can you alter the prenup at a later date, or are you stuck with whatever you decide today?
A prenup may not be fair to both parties. Many times, the spouse who asks for the prenup has more money than the other spouse, and the entire goal is to protect that money. There is no way that is going to provide an even split.
Functionally, a postnuptial agreement is not all that different than a prenuptial agreement. It still deals with division of assets if the couple gets divorced, and both people have to sign it. The main difference, as the name implies, is that the prenup happens before the marriage and the postnup happens after the ceremony.
Prenuptial agreements have been growing more popular over the years. While part of the reason may be the high divorce rate -- children who saw their own parents get divorced may be more likely to plan for it when they get married -- another reason is simply age.
A prenuptial agreement is typically seen as a safety net in case of divorce. But what about a prenup that actually encourages a couple to split up?