Prenuptial
Agreement
One
of the greatest debates a couple may face when deciding to marry is the issue
of whether or not to have a prenuptial agreement.
A
prenuptial agreement is a contractual agreement between a couple about to wed
that determines how assets will be distributed if a divorce were to take place.
Prenuptial agreements are not just for the super wealthy. You may
consider having a prenuptial agreement if you:
- Own a home, stock, or other
retirement funds
- Own part or all of a business
- Receive an inheritance or other
substantial funds
If
you are considering a prenuptial agreement, communication between you and your
future spouse is key. The two of you should sit down and discuss
what the agreement would cover. Overall, honesty concerning one another’s
assets is vitally important. Also, a prenuptial agreement cannot waive rights
to child support.
As
difficult as it may be to discuss money prior to marriage, the conversation may
save you some headaches and heartache in the long run. While a prenuptial
agreement may not be the ideal document for every couple, it is definitely
encouraged that couples discuss financial arrangements prior to saying ” I do”.
