A prenuptial agreement is an agreement between two people that deals with the financial consequences of their marriage ending.
All marrying couples have a “prenuptial agreement” – it is known as “divorce law.” However, a lot of people are unhappy with the way divorce law works, and prefer to take control of their lives, rather than leave it in the hands of the government. In these cases, it makes a lot of sense to get a customized prenup.
Getting a prenuptial agreement is particularly important in these 8 cases:
1. You are much wealthier than your partner. A prenuptial agreement can ensure that your partner is marrying you for who you are, and not for your money.
2. You earn much more than your partner. A prenuptial agreement can be used in many states to limit the amount of alimony that is payable.
3. You are remarrying. When you remarry, your legal and financial concerns are often very different than in your first marriage. You may have children from a previous marriage, support obligations, and own a home or other significant assets. A prenuptial agreement can ensure that when you pass away, your assets are distributed according to your wishes, and that neither your first family, nor your new family are cut off.
4. Your partner has a high debt load. If you are marrying someone with a significant debt load, and don’t want to be responsible for these debts if your marriage ends, then a prenuptial agreement can help ensure that this does not happen.
5. You own part of a business. Without a prenuptial agreement, when your marriage ends, your spouse could end up owning a share of your business. Your business partners may not want this to happen. A prenup can ensure that your spouse does not become an unwanted partner in your business.
6. To prevent your spouse from overturning your estate plan. A prenuptial agreement can ensure that you estate plan works, and, for instance, ensure that a specific heirloom remains in your family.
7. You are much poorer than your partner. Just as a prenuptial agreement can be used to protect a spouse who is well off, a prenup can also be used to ensure that the partner who is weaker financially is protected.
8. If you plan to quit your job to raise children. Quitting your job will negatively impact your income and your wealth. A prenuptial agreement can ensure that the financial burden of raising the children is shared fairly by both partners.
Prenuptial Agreements Essay
Marriage is defined as a relationship that is legally recognized and established by a civil or religious ceremony, joining together in wedlock two people who intend to live together as sexual and domestic partners "until death do them part." It is also defined as a blend of two or more entities. The word Blend is defined as a mixture of two or more substances so that they do not readily separate. A marriage should also have trust. Trust is defined as the confidence and the reliance that one places on someone or something. In a nutshell, a marriage is mixture two people and their possessions, and contains within it all of the trust necessary to be lifelong partners; however, there are a wealthy few who feel as if a prenuptial agreement is the only true method of which they can define the level of faith within a marriage. They feel that if a spouse agrees to a prenuptial agreement then that person truly loves them and does not want them for financial benefits. A prenuptial agreement should not be a factor in the engagement process.
My opposers would say that a prenuptial agreement is sometimes necessary because people are sometimes not sure of the loyalty of their spouse. A marriage is a union of two people and well as their possessions with all of the trust deemed necessary to be lifelong partners. If one does not trust the person in whom he or she desires to marry then marriage should not be subject of discussion between those particular individuals. The person someone marries should be the person that he or she would trust with their own life. Trust is the key and there is no way to get around it.
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