Benefits of a Prenuptial Agreement

A prenuptial or antenuptial agreement is a legally binding written agreement between two partners before the wedding bells ring. The purpose of this agreement is to document what will happen to both spouses' assets in the event the marriage ends. While prenups tend to carry a negative connotation, they can be highly beneficial for many reasons. In this blog, our attorneys will discuss the benefits associated with prenuptial agreements and help clear up any preconceived notions you may have.

Benefits

Fair Distribution of Assets

If you marry someone with significantly fewer assets, you run the risk of losing a large portion of your wealth in the event of divorce. An antenuptial agreement will ensure each spouse leaves the marriage with the assets that are rightfully theirs.

Straightforward Divorce Process

Nobody anticipates divorce when they get married, but if it does happen, a prenup will alleviate common complications. Since assets have already been negotiated, the process will usually be less painful.

Debt Protection

If your spouse carries a hefty debt, it wouldn't be fair for you to be left paying for a portion after your marriage ends. Keep yourself and your credit protected. When you sign a prenup, you ensure your spouse's financial liabilities can't transfer to you under any circumstances.

Encourages Healthy Communication

Although the initial conversation might seem intimidating, having a safe space for open discussion can significantly benefit your relationship's strength. Understanding each other's expectations will assist in improving the depth of the upcoming union and building trust. Additionally, should the divorce end, you will be on track for a faster divorce process.

Protects Your Children

If you enter a marriage with children from a previous marriage, you might want to consider its impact on your kids. Signing a prenuptial agreement will ensure your children do not lose their rights to your property and will receive what is rightfully theirs.

Getting married is a wonderfully exciting experience and should be celebrated. However, there is no guarantee this will last forever. Divorce is a draining process, both emotionally and financially. Luckily, the process can be way less stressful if a prenuptial agreement is set in place before marriage, avoiding delays accompanying divorce.

Due to the lengthy process, you should start the process as soon as possible before your wedding date. Our attorneys at Orshan, Spann & Fernandez-Mesa, are prepared to walk you and your future spouse through this process. Contact us or give us a call today! (305) 853-9161