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Benefits of a prenuptial agreement: Take these into consideration

As an engaged couple, you have many big decisions to make about the future. While you focus a good portion of your time on your upcoming wedding, you should look past that. When doing so, you may come to realize that a prenuptial agreement is in your best interest.

Even though you may understand the benefits of a prenuptial agreement, it doesn't mean your soon to be spouse has the same knowledge and feelings. In fact, this person may look down on a prenuptial agreement, thus putting you in a difficult spot.

Not only should you understand the many benefits of a prenuptial agreement, but you also need to convey these to your partner in a way that makes them understand your position.

Here are five benefits to talk about:

  • The ability for both individuals to protect any assets they bring into the marriage
  • The power to protect inheritance rights of any children from a past marriage
  • The ability to protect any interest in a business or professional practice, ensuring that it's not the subject of division in a future divorce
  • If one person is bringing a lot of debt into the marriage, a prenuptial agreement can protect the other person from being responsible for it
  • To limit the amount of alimony one person would pay the other in a divorce

Will it cause an argument?

With these benefits in mind, you may realize that creating a prenuptial agreement is exactly what you need. You may also realize that your partner is not as excited.

Here are three things you can do to help avoid an argument when discussing the creation of a prenuptial agreement:

  • Don't issue demands, but instead explain your stance and let your partner talk
  • Discuss why you think a prenuptial agreement is a good idea, including your fears
  • Make it clear that a prenuptial agreement is good for both individuals, not just you

Once you understand the pros and cons, as well as the steps you can take to proceed with the creation of a prenuptial agreement, you will feel better about what's to come and your ability to protect yourself in the event of a future divorce.

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