Prenups are not romance killers.
Why Should I Get a Prenuptial Agreement? It is Best to Plan while Happy
No one gets married thinking they will get a divorce. Creating a prenuptial agreement is not planning to get divorced, but it is a plan that can help you prepare for the unthinkable. Determining what each of you will keep or receive in the event of divorce is best done while you are still happy and in the honeymoon phase. Once you get to the point of contention in your marriage, you may argue over the smallest details. If the unthinkable does happen and you get divorced, those arguments can be very costly for you and the rest of your family. If you happily agree on the terms beforehand, the process is much easier if a divorce does happen and can help both of you move forward more quickly.
Address Debt Obligations
It is common knowledge that a prenuptial agreement can outline the assets each party will receive during a divorce. However, a prenup can also address the debt obligations each person is bringing into the marriage. Marital debt, or debt acquired after the wedding, is considered marital property. A prenup can and should address who is responsible for both separate and marital debt.
Prevent Bankruptcy
It is no secret that divorce is expensive. But many people still do not realize how costly it can be and that it is one of the leading causes of bankruptcy. The more contentious your divorce, the more it will affect your retirement savings, financial stability, and even your credit rating. A prenuptial agreement will allow you to avoid the arguments that come with a contested divorce, so you can avoid the financial burden that comes with them.
Resolve Alimony Issues
Alimony issues are also some of the most contentious during divorce. Determining how much one spouse will pay, and for how long, can be a lengthy process. Anything that holds up a divorce case from proceeding is going to be costly. A prenup can address whether alimony will be paid, or if one party wants to waive their right to it. The contract can also include a specific amount of alimony, or a formula that will be used. If either spouse wants to stay home to raise children, including this provision in a prenup is crucial.
Prenups Bring More Security to a Relationship, Not Less
Some people assume that because a prenup outlines what will happen if a marriage ends, it brings with it a certain sense of insecurity. Truthfully, it is the exact opposite. When property and other terms are clearly outlined in a prenup, it allows you to focus on the relationship and not what one of you does or does not have.
Our Family Lawyers in South Carolina Can Draft Your Prenup
If you are getting married, there are many benefits a prenuptial agreement will bring. However, in order to offer full protection, these legal documents must be drafted properly. At The Peck Law Firm, our South Carolina family lawyers can advise on the facts of your case, and create a prenuptial agreement that is both customized to your needs and enforceable in court. Call us now at 843-631-7117 or reach out to us online to schedule a consultation.