Why You Should Sign a Prenup

A prenup is a contractual agreement that engaged couples should sign before they become formally married. It helps to protect the interests of both parties when they decide to combine their assets and liabilities.

Although many individuals believe that prenups are limited to the wealthy, this is far from the truth. Any item that a person has worked hard for, regardless of its value, deserves to be properly protected in the event of a divorce. Many spouses find themselves deprived of their possessions during a divorce proceeding when they do not sign a prenup contract.

Many people believe that bringing up the idea of a prenup to their soon-to-be spouse may cause friction. However, you will not be able to truly know another person unless you see how they react to the suggestion. Anyone who finds it wrong for you to want to leave with what you brought into the marriage, may not be the ideal spouse for you.

There are a number of things that can be included in a prenup agreement such as monies, tangible items, and alimony rights. One of the first things that you should do is to make a list of your assets and liabilities. Both parties should catalog any cars, houses, heirlooms, furniture, collectibles, stocks, bonds, retirement funds, bank account balances and anything else that should be rightfully yours if you get a divorce. You should then list all of your liabilities since you will have to take responsibility for them in the event of a dissolution of marriage. For instance, you may have credit card debt or student loans that you are bringing into the marriage.

Prenups help protect you when you need it the most. The majority of these contracts hold up in court, as they are seen as the pre-arranged and agreed upon terms that the interested parties have come up with. Having a clear and unbiased mind before you are married will lead to neutral and fair terms as compared to what would be reached with a bitter and angry spouse who is faced with an imminent divorce.

An engaged individual can have a prenup contract drafted up by an attorney or they can purchase a do-it-yourself software kit that guides them through the process of creating the perfect prenup. It is always recommended that you get the legal advice of a professional that has the experience and knowledge of the applicable laws. For additional information on the subject matter, you can visit lawyers.com, prenuptialagreements.org or prenuptialagreementform.com.