A prenuptial agreement can help keep the peace in your marriage and provide clarity about expectations. This arrangement can elevate the value of any marriage, but especially so in particular circumstances.
Knowing whether a prenuptial agreement is the right decision for your relationship can help you determine how to go forward.
There are past relationships
If you or your significant other have past relationships, the benefit of a prenuptial increase exponentially. Prior obligations including alimony and child support will need to stay consistent. You might also have concerns about your children from former relationships receiving adequate support if something happens to you. A prenuptial is a good place to discuss some of these conditions.
You own a business
Business ownership is another valuable reason to have a prenuptial agreement. You will want a place where you can clarify asset ownership in a formal and legal manner. According to U.S. News, most of the states have laws for equitable distribution during a divorce and the outcome might not always provide even benefit to both parties. As such, you will want a prenuptial to provide protection for your business and the assets you have accumulated as a result.
There is significant wealth or debt
A significant amount of debt or wealth is probably something you will want to clarify responsibility for. If you plan to marry someone who has significant debt, you will want to make sure that responsibility remains your spouse’s responsibility if something happens in the relationship. Similarly, if you have a lot of wealth, you will want to maintain ownership of that throughout your marriage in case of the unexpected.
A prenuptial agreement can give you peace of mind and remove some of the uncertainty about the unknown.