Minnesota Prenuptial Agreements
When most people think about prenuptial agreements, they ultimately think about divorce. However, they are not just for divorce. If you are asked to sign a prenuptial agreement, you should because it is going to ultimately protect you. It doesn’t mean that you think your marriage will not work out.
Here are some reasons that you need a prenuptial agreement.
Since financial problems are a big cause of divorce, it can often be helpful to talk about your finances before you get married. This can be quite an eye-opener, though it is really important to figure out your spending, debts, and savings. By talking about where you are and where you want to be, you are going to be more prepared for the future.
If one of you has more money than the other, a prenuptial agreement will save that extra money. If you have a lot of money in your savings account, you should do everything that you can do to protect it. If you don’t have a prenuptial agreement, your ex will be entitled to a certain percentage of your money.
The same can be said about debt. If one or both of you have significant debt, a prenuptial agreement will save the other from being stuck paying off those bills. If you know that your spouse has a problem controlling his or her money, a prenuptial agreement will ensure that your credit won’t be harmed in the divorce.
A prenuptial agreement can also protect precious property. If you own a heirloom or something equally important to you, a prenuptial agreement will ensure that it stays in your procession.
If you make less than your spouse, a prenuptial agreement will ensure that you get some sort of spousal support. It can be hard to live on one income, especially when there are children involved. For this reason, if you don’t make much money, you should make sure that you are protected.
If you decide to stay home to take care of the children while you are married, a prenuptial agreement can save you when you have to go back to work. It can be extremely difficult to get back into the work force, especially if a divorce forces you to quickly find a job. A prenuptial agreement can help by ensuring that you and your children will be provided for.
Business owners need a prenuptial agreement to protect their business. In the event of a divorce, your spouse could be entitled to half of your business. There are also times when he or she could have a say in what goes on with your business. To ensure that your business stays yours, protect yourself with a prenup.
Prenuptial agreements are to make divorces go more smoothly. In the event that you do divorce, you already have many things hashed out. You will know who gets to keep what in terms of possessions and money, saving you valuable time in court. Divorce can get messy (and legnthy) so the more that is already solved, the quicker you can move on.
A prenuptial agreement is more important for your second (and other) marriages. You may have a family from your first marriage that you want to protect. In the event of your death, a prenuptial agreement will ensure that your children from your first marriage will be protected and get what they deserve.
Though people assume that only rich people need prenuptial agreements, that is simply not true. If you are in significant debt, it is just as important. If you are going to need spousal support after a divorce, protect yourself with a prenuptial agreement.
Whether you need it or not, it will help you and your significant other to discuss your finances. It could be a wake-up call, though it will really help your divorce go more smoothly so you can move on.
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