Prenups and Money

by TTMK on December 17, 2015 · 0 comments

Not all marriages end with a ‘happily ever after’. While most of them end unfortunately due to personal factors, some marriages are torn apart due to financial issues as well. This unfortunate circumstance can be avoided by signing a prenuptial agreement prior to the wedding. This will ensure that you have a blissful marriage and a doubtless future. For those who are unaware, a prenuptial agreement, also known as a premarital agreement, is a contract that covers the finances of the spouses in case of a divorce. Although some couples view this contract as a jinx, since it actually motivates divorce in a sense, here are some reasons as to why you should consider signing this agreement before you exchange your vows:

Short engagement periods

Some couples get married very quickly without dating or waiting for a few years after the engagement to test the stability of their relationship. In this case, it is best to sign a prenup since you never know when love can turn into hate. Since you do not know each other well, it is best to protect your finances. This does not mean that you are assuming that your partner is out to get your money but in case he/she falls into bankruptcy, you need to ensure that your finances are in a safe position to secure your future.

Financial extremes

In certain relationships, one can note differences between the couple in terms of finance and social statuses. When one person is much wealthier than the other, the former is in the situation and under the obligation to protect his/her finances. In the same way, if one of the spouses is in more debt than the other, it is best to contact prenuptial attorneys in Scottsdale and get the contract done legally and professionally in order to remove the financial uncertainty off your relationship and your future. This way you wouldn’t have to be stuck paying off your spouse’s loan if things turn sour.

Business status

If you are small business owner or an entrepreneur or even if your fiancé is one, you might want to consider a prenup well ahead of the marriage. As a business personality, it is your responsibility to protect your investment just as it is your responsibility to save your marriage. This is particularly important if you are running a family business. Although he/she might be the love of your life, it is not wise to include him/her as a partner while they have unsettled finances.

Privacy

Some people prefer to sign a prenup simply because they wish to keep their marriage and finances private. The confidentiality clause of the prenup ensures the all details regarding the contract remains secretive and safe. This way, you can be assured that in case of a bad divorce, neither party can insult or discredit each other in public or through social media and any other media. Through this, one can keep their personal and marriage lives out of the negative views of the general public.

Therefore, regardless of how much you trust or love your husband/wife to be, make sure that you sign a prenup since nobody knows what the future holds.

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