About Prenups
In America today, one in three marriages are ending in divorce. A prenuptial agreement (or a prenup) is an agreement between two people that manages the outcome of a marriage ending in divorce or death.
Other People Are Reading
-
History
-
Nearly every married couple should have a prenup. Prenuptial agreements have been around for thousands of years. Some form of prenuptial agreement, was common among Far East and European cultures. In these instances, the agreement was to protect royal families from losing their wealth.
Who It Helps
-
It is not necessary to be rich to want to protect hard earned assets with a prenup. Those who would benefit from a prenuptial agreement are those who own a home or business, have received an inheritance, who make more money than their partner or is wealthier, or have loved ones to be taken care.
-
Follow Legal Procedures
-
Without a formal contract, the agreement may be completely void.
Keep It Up to Date
-
After being married for a certain length of time, a partner may increase the amount of money given should the marriage end in divorce. It is also common to include a "sunset clause." This would state in the original prenup that should the couple be together for a specified amount of time the amount of money given would be increase.
Legal Benefits
-
Although thinking about a prenup before marriage may be a little daunting, the agreement will save stress and heartache in the event of a divorce. Without a prenup, assets could end up in the wrong hands.
-
References
- Photo Credit wedding image by Mat Hayward from Fotolia.com
