Prenuptial agreements are usually a great idea. For many couples, they should get a prenuptial agreement before they take their vows of marriage. However, some people wonder if their particular situation would benefit from a prenuptial agreement. Here are 3 circumstances where you would definitely want to get a prenuptial agreement.
1. You Have A Good Deal Of Wealth and Assets Before The Marriage
If you have acquired a good deal of wealth or have substantial money from an inheritance you should consider getting a prenuptial agreement. After you are married it is usually standard that all income and wealth acquired during the marriage is joint. This means that if you and your spouse get a great deal of money in 5 years and then divorce, even if one person earned more than the other, there is a good chance that your estate will be split evenly. However, you don't want you personal and private money to be included in that.
When you get a prenuptial agreement you can protect your money so that if the marriage does dissolve, your ex-spouse doesn't get half of everything that you brought to the marriage.
2. It Is Your Second or Multiple Marriage
If you have been married before you should consider getting a prenuptial agreement. Usually by this time you have responsibility to your former spouse, as well as have acquired personal wealth. Since there is a higher probability that second marriages will end in divorce, it is a good idea to protect yourself. This is especially the case if you have stepchildren or if you have a good deal of wealth.
3. Your Have Children From A Prior Relationship
In most situations husbands and wives are seen as equal partners and have a duty to each other before even their children. This means that if you have a child from a prior relationship and you want to protect their wealth and their inheritance you should get a prenuptial agreement. This is because you don't want you ex-spouse to get half of everything, including the money that you wanted to be given to your child(ren). When you write up a prenuptial agreement you can set up trust funds, or contingencies that are for your children, so that regardless of the success of the marriage, your children still get what is theirs.
These are just 3 situations where you should seriously consider getting a prenuptial agreement, it will only serve to protect you and your interests.
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