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Prenuptial Agreement and The Advantages It Offers To Engaged Couples
Prenuptial agreement to most couples who are about to get married is more like that of an alarm that signals disaster rather than a positive tool in marriage. Most people say that marriages with prenuptial agreement almost always end up in divorce or experience very rocky relationship. However, if you are to look at it on the bright side, financial experts and legal gurus will tell you that it is actually a remarkable tool in planning finances the smart way.
Why is that? Financial experts say that marriage is actually not just flair of emotions and physical unity — it is also an alliance of finances. Hence, couples must treat marriage as a financial arrangement as well, wherein the monetary security and welfare of the marriage is being maintained.
Prenuptial agreement is actually a contract bounded by laws and is entered before marriage. The subject matter of a prenup may differ in many ways, but in most cases it includes spousal support if divorce or separation takes place and division of conjugal properties.
Before, most judges are not in favor and do not recognize prenups because they see it as one way of humiliating and mortifying the sanctity of marriage and the ideologies from which marriage should stand for. In today’s modern society, many couples and legal practitioners are already in favor of prenuptial agreement. In the United States, prenuptial agreement is recognized in all 50 states including the District of Columbia.
Legally binding like their marriage, prenups can actually provide more advantages than disadvantages.
Here’s a list of some advantages of prenups:
1. Financial protection
Contrary to common beliefs, a prenup is actually a form of protection and should be seen as a defense and not an assault. Initially, people think prenups represent distrust and skepticism and eventually lead to a negative condition even before marriage takes place. But if one would analyze the financial situation of married couples who undergo divorce proceedings, one may realize that it is more of a protection.
In marriages where there are no prenups, the court or the state government will decide on how financial assets should be appropriately divided, which in some cases, may reflect the advantages of only one party and leave the other at a serious inconvenience.
2. Protect other financial assets not associated with the marriage
In extreme cases, some individuals may fight for whatever financial assets his or her spouse may have even if these things are beyond the concerned marriage. To protect both parties from any grievances that may arise because of this condition, reasonable conditions can be provided in prenups.
3. A platform for understanding
Most people think that prenuptial agreements are only focused on the individual who is considered exclusively wealthy. Prenups are actually non-discriminatory conditions and can be used in creating a framework of understanding to be instituted by a couple with substantial holdings.
4. A form of respect
Prenuptial agreements are more than just financial agreements. It is also a form of respect, where both parties are allowed to discuss their own individual objectives and desire without having to humiliate or injure the other person’s pride.
5. Contingency plan
Most legal and financial expert would like every couple to see prenups as a form of contingency plan. Nobody holds the future; hence, you can never tell if your marriage will always be perfect. If in case it is flawed or unbearable indifferences arise in the future, prenups can actually provide mutual security in both parties even if their marriage is no longer workable.
If you would want to know more about prenups or is seriously considering one, research on various legal and financial experts on the Internet who can provide you with the right information and guidance you need.
Author Resource:-
Jo is a writer for ‘Betteridges Solicitors’ (http://www.divorcesolicitor.com), an established family and matrimonial law firm based in UK. If you along with your fiancée wish to have a prenuptial agreement or if you would like to know more regarding divorce and separation agreements then you ought to check out Betteridges Solicitors.
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