Prenup Agreements: The Benefits for You

Prenup agreements are becoming more common for married couples. These agreements can help you sort out property and financials going into the marriage. Additionally, they can also help make a divorce a much smoother process. Knowing the benefits of a prenup can help you determine if you should also have one for your marriage…

 Prenup Agreements: The Benefits for You

Separate assets 

Prenup agreements help you and your spouse sort out what assets belong to whom. This helps you to both know what assets you’re bringing into the marriage. This kind of information is especially helpful during a divorce. 

Asset division is a key aspect of divorce. However, this generally means you’ll have to fight in court to prove what assets are yours from before the divorce. A prenup will avoid this fight, as you’ll both already have all those assets listed. 

Splitting debt

Debt is also something which can get split during a divorce. However, prenup agreements can help specify what debt you and your spouse had before you were married. This will help limit your debt responsibility during a divorce, as well as save you time and money on the proceedings. 

Settlement negotiations

Prenup agreements are basically divorce settlement guidelines. They help you and your spouse define who gets what in the case of a divorce. Without an agreement, you’ll have to negotiate a settlement based on your state’s divorce laws. This can lead to a longer and more expensive divorce proceeding. 

On the other hand, a prenup already lays out who had what coming into the marriage. That makes it much easier to figure out what does need to be negotiated and what doesn’t. For example, that means you and your spouse can focus mainly on say co-parenting agreements rather than everything at once. A prenup is basically a way to “trim the fat” from your divorce and make it easier for everyone involved.