
The Prenup – When To Consider Having One

Marriage is one of the greatest bliss and highlights in life. Planning for the cake, dress, invitations, and the honeymoon brings a different kind of endorphin, especially for the girls! One of the major things that don’t get too much attention is making a prenup. Prior to the wedding, couples bask in the promise of love and forever, often only to realize that life is tough. Prenup, no matter how offending it may seem, can protect both parties from the damages of the divorce.

15% of people who have been through a divorce regret not having a prenuptial agreement in the first place.
What is Prenup?
Prenup or prenuptial agreement is a contract between the two parties entering marriage. The agreement should be executed by both parties the initiator and the compliant spouse. The initiator spouse is the one who wants a prenup, while the complaint spouse is the one who is asked to agree to the terms of a prenup. It addresses monetary issues, properties acquired during the marriage, and the property rights if they should divorce. The prenup is enforceable without consideration and becomes effective on the date of marriage. Amendments are possible after the marriage takes place.
Prenup Pitfalls

62% of people in a recent survey say that the request for a prenuptial agreement sends a negative signal to the other person who hasn’t requested it.
Couples usually avoid getting a prenup for the reason that drawing one means there is a lack of faith and commitment to the marriage. Financial discussions can sometimes become too tense and difficult, marking a probable damage to the relationship. A prenup can even dissolve a relationship prior to getting married. This is because it triggers a lot of unpleasant emotions, especially the insult and lack of trust between the two.
Prenuptial agreements are more insulting to those who are getting married for the first time. But it seems smart for the others who have been married or even engaged before. Even if the agreements have been executed by both parties, it is undeniable that there are unfair clauses included in the agreement. When the unwanted comes- divorce, the other person may very likely go to court to try and have the prenup set aside and request that the court use the laws of the state to make decisions about alimony and property division. These court battles are time-consuming and not to mention, very expensive.
The relationship towards the in-laws may get tainted as well, especially for a family who has lesser resources and money. A feeling of insult may arise due to the way the initiator spouse sees things.
Reasons to Consider Before Getting a Prenup
We have a notion that prenup is only for those people with money. This is one of the reasons why middle-class couples think they don’t have any reasons to have one. A prenup is not just about protecting the wealth each one has. It also protects them from the future liabilities acquired during the marriage. Loans and debts, like study loans, of the other can become a community property, that means, both will become liable. A prenup can offset this potential issue.
Getting a prenup is really up to the couple. Things should be considered seriously before diving into the idea of getting one. Couples must also know how to tread lightly when negotiating since it can be very tricky for both parties. Here are some guidelines that can help with this decision making process.

Getting prenups are usually considered expensive but it is only half of how much people pay for a wedding.
- One person is way wealthier than the other – this will help draw a fine line that marriage doesn’t entitle the other of the entire wealth the other has. It keeps assets separate and private from one another.
- The other person has been married before – if the other is bringing certain assets into a new marriage, like child support and multiple properties, one may want to ensure they don’t get tangled in any other finances.
- The debt of the other is bigger – as mentioned earlier, it’s better to protect oneself when it comes to debts and liabilities accumulated during the marriage.
- The other person has to quit a job – drawing a prenup can help secure financial provisions to the other who has to stay at home to watch over the kids.
- They have children – A prenup can establish what should be left to the children and also make sure that previous and current family members have a financial plan in the case of death.
The couple should consider that getting a prenup is no guarantee to avoid divorce courts.
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