Couples who are entering a marriage may wonder what the benefits of a prenuptial agreement are. Prenuptial agreements provide a variety of benefits and can protect both spouses in the event they decide to divorce at some point.
The benefits of a prenuptial agreement include:
- Protecting the property and assets of the spouses – sometimes couples considering marriage think that prenuptial agreements only o protect a wealthy spouse. In reality, prenuptial agreements can protect the property and assets of both soon-to-be spouses. They can also protect spouses from the debts of the other. Without a prenuptial agreement, if the couple decides to divorce at some point, state property division laws will determine how their property is divided which may not be how the divorcing couple wishes for their property to be divided.
- Clarifications during divorce an in circumstances of death – prenuptials agreements can also be used to clarify financial rights and responsibilities during the marriage and also help determine how property will be handled in the event one of the spouses passes.
- Avoid lengthy and costly disputes in the event of divorce – if the couple decides to divorce at some point, a prenuptial agreement can help avoid long and expensive disputes during the divorce process and may save the couple time and money during the divorce process.
There are important requirements for a prenuptial agreement to be valid that couples considering marriage need to be familiar with. Familiarity with family law tools such as a prenuptial agreements is valuable information for couples entering a marriage to have for a variety of different reasons.