Prenups – Not Just For Celebrities
What’s a prenuptial agreement and why you might want one before tying the knot.
Many times when people get engaged and think about marriage their thoughts wander to years down the road. They believe that marriage is forever and they are entering into the marriage with the notion that they will never get divorced. You may not think a pre-nup is for you but in reality more than 50% of marriages end in divorce. Even if you don’t believe divorce will happen to you, it is still good to protect what is in the best interest for both parties involved.
What is a pre-nup?
1.) A prenuptial agreement is a contract that is entered into by both parties prior to marriage. It will cover each parties wishes such as property decisions, financial support, alimony, and even specific details of a marriage if you wish.
2.) A prenuptial agreement is not only for people with money. It is a great way to keep things separate, especially things that were accumulated before marriage. If you want to keep debts, property, or your business separate a prenuptial agreement may be for you.
3.) They do don’t cover child support or custody of an unborn child. As it is hard to say what is in the best interest of a child before they are even born.
4.) Everything in a prenuptial agreement is not always 100% enforceable. It needs to be fair to both parties. Also, if you lie on the pre-nup and hid assets that were not disclosed then the pre-nup may not. hold up in court.
5.) It is important to put an agreement into place in a timely manner. If it is only 2 or 3 months before the wedding, then the other party can say they were forced into signing it.