Marriage is commonly seen as the ultimate state of commitment for life. Realistically speaking, while all intentions are optimistic at the beginning, no one has ultimate control of everything that will happen. Being prepared remains an important part of protecting oneself and their loved one.
Prenuptial agreements are not preparing for divorce—it’s being clearheaded about what could happen in the future. A prenup can help you in the following situations.
- Protecting children or grandchildren from a previous marriage. Financial assets and inheritance rights adjust with the new union, and if a spouse has children or grandchildren from a previous union, having a prenup can protect their rights as wished by the spouse.
- Protecting yourself from debt inheritance. If you do not have debt or way less debt than your future partner, you can establish this financial agreement in your prenup, so it does not affect your financial score due to your partner’s history before your marriage.
- Reduce conflict and layout a decision-making process. Conflicts and disagreements can happen in any relationship, and it can take a lot of time and resources. As an official document, the prenup can help provide an outline of the previously agreed points for easier decision-making.
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