The following article will introduce the Pros and Cons of Prenuptial Agreements
PROS
- A prenuptial agreement can protect the right of inheritance of children and grandchildren the product of a previous marriage.
- If you have your own business or profession, a prenuptial agreement can protect your interests so that your business or your practice as a professional, are not subject to the control of your ex-spouse in case of divorce.
- If one spouse has significantly higher debt than the other, a prenuptial agreement can protect the second spouse to assume the obligations of the first.
- If you plan to give up a lucrative career after getting married, a prenuptial agreement can ensure that you are compensated for that sacrifice if the marriage does not last.
- A prenuptial agreement can contemplate much more than the financial aspects of the marriage, and you can specify any detail about the decisions and responsibilities that the parties agree in advance.
- A prenuptial agreement can limit the amount of spousal support that one spouse will pay if the couple divorces.
- A prenuptial agreement can protect the financial interests of older people, of the people who are getting married for the second time, or other number of consecutive times, and the people with fortunes substantial.
CONS
- The prenuptial agreement may require that you assign your right to the inheritance of his spouse when he dies. Before the law, you are entitled to a share of the inheritance even if the spouse was not included this provision in his last will and testament.
- If you contribute to the continued growth and success of the business of your spouse or your professional practice (example: when entertaining clients or taking care of household chores, etc.), and therefore allows you to focus on your professional activities, you may not be entitled to claim a share of the increase in the value of the business if so agreed in the agreement prenuptial. Before the laws of many states, this increase in value is considered to be community property divisible.
- Starting a relationship with a contract that sets out the specifics of what will happen in case of divorce or death, you can generate the feeling of mistrust between the couple.
- As previously mentioned, a contract can break the spell emotional.
- It can be difficult to project how they will handle future potential problems. What may seem like a commitment inconsistent during the romance prenuptial, could become monumental and burdensome in reality.
- A spouse who earns little or that it does not earn any income may be unable to maintain the lifestyle to which she was accustomed during the marriage if the agreement substantially limits the amount of spousal support to which the spouse is entitled.
- During the period of “honeymoon” in the relationship, one spouse may agree to terms that do not benefit from the whole to their own interests. He or she may feel so “in love” that you do not care about the financial aspects and can’t imagine that the couple can be separated definitely.