Usually, people do not get married and plan for divorce at the same time. However, if you are contemplating a second marriage, you already know that “happily ever after” may not include the person you are about to walk down the aisle with. This is what makes a prenuptial agreement so important. You don’t really want to need one, but if your marriage ends, you will probably be glad you have it.
Prenups have become more mainstream over the years, especially for business owners or people who want to protect assets they acquired before the marriage. Here are a few reasons why you should get a prenup.
It makes financial obligations clear
One of the main reasons why people get a prenup is to lay out the financial obligations of each party in the event of divorce. A prenuptial agreement can specify how the couple will divide property and address other issues such as alimony. For example, if you own a business in Delaware, a prenup can protect your ownership interest in case you and your spouse choose to end the marriage.
It starts the conversation about finances
Managing finances is one of the most stressful parts of marriage and is one of the leading causes of divorce. During the process of creating a prenuptial agreement, both parties must provide full disclosure about debt, assets and income. By being transparent about your financial health before you get married, you and your future spouse might be able to eliminate this particular marital problem.
It shows how well you communicate
Communication and compromise are two big parts of creating a prenuptial agreement. Even though a valid prenup requires that you and your future spouse both retain independent counsel throughout the process, you will have an easier time if you do not let your attorneys do 100% of the talking.
You and your significant other should communicate openly about the issues that come up and the terms of the prenuptial agreement. If you can work out the details of a prenup to your mutual satisfaction, then you will probably be able to work through other challenges that come up during the marriage.
If you are planning to get married, a prenuptial agreement might be beneficial for both you and your future spouse in Delaware. Take the necessary steps to protect yourself and your interests in case divorce is in your future.