So, you are entering into that legally recognized lifetime union; otherwise known as marriage. We suspect you are bound to be swayed by those rose-colored glasses you will put on right before you utter “I do.”
A prenuptial agreement is the last thing you are thinking about as you sail into the waters of life. When embarking on a partnership that is supposed to last a lifetime, you aren’t thinking about the possibility that someday you might be planning for a divorce.
The odds are not in your favor, you know.
With the divorce rate at nearly 50%, we wouldn’t slap money down on a bet that your marriage will last forever. Nothing personal.
If you are about to get married, there are so many things that you need to have done. You need to pick the color palette, the song for your first dance and come up with the right words for your vows. There is something else you need to add to your to-do list: Call your attorney.
Talking about what will happen financially when you get married is far from romantic, but money is the leading cause of stress in a marriage. The Law Office of Loomis and Greene, your law firm in Loveland, offers reasons you might want to consider a prenuptial agreement.
Think of It as Insurance
A prenup is a lot like an insurance policy; you hope you never have to use it, but you are happy you have it just in case. Just like when you are considering insurance, you will want to prepare for a worst-case scenario.
Partners should discuss assets and which will be joined and which will remain separate.
Not Just For the Wealthy
A prenup is not just for people who have a lot of money. Prenups don’t just protect people who have sizable assets. People who are self-employed, those who are marrying into debt and those with stock options that could be very valuable in the future can all benefit from a prenup.
Keep Family Assets in the Family
Even if you don’t feel the need for a prenup, your family might think it is a good idea. It would be a shame is a big chunk of money were to go to your ex-spouse’s kid at the expense of your own children.
Shield Yourself From Debt
A prenup can help shield a debt-free spouse from their partner’s financial liabilities in the unfortunate event of a divorce.
A Smoother Divorce Process
Nobody anticipated a divorce and it is the last thing you are thinking about on your wedding day. But if your marriage does end in divorce, a prenup could make it less complicated since the division of assets has already been determined and agreed upon by both parties.
Protect Your Business
You have owned your own business since long before meeting your soon-to-be spouse. A prenup could save you from having to liquidate in the event of a divorce.
If you have questions concerning a prenup, contact The Law Office of Loomis and Greene.