If you are getting married soon, you may be feeling a lot of emotions. While you are likely experiencing mostly positive feelings, you may have some nerves and concerns too. You may be wondering what marriage will truly be like or if it will really last forever.
Sometimes things work out, but sometimes they do not. If you have concerns about protecting your finances or assets, you may want to think about enacting a prenuptial agreement, or prenup, before you tie the knot. Here are some reasons you should consider getting a prenup.
1. You and your fiancé handle money differently
There is nothing inherently wrong with managing money in different ways, but it can put a strain on your future marriage. If you are big on saving money but your partner racks up credit card debt, you will probably endure a lot of conflict during your marriage. Signing a prenup is an effective way to discuss these issues openly and avoid arguments later.
2. You have a business
If you own your own business, it is probably one of your most significant assets. It is your pride and joy. So, what would happen to your company in the event of a divorce? Without a prenup in place, your partner could try to get a share of your company. Instead of fighting for your business and spending a fortune on a valuation later on, consider getting a prenup now to protect your business assets.
3. You have kids from a previous marriage
According to Bankrate, a personal finance website, a second marriage is one of the main reasons you should think about signing a prenup. If you want to protect certain assets to pass on to your children, a prenup is one of the best ways to accomplish that. Address concerns about inheritance in a prenup to prevent a potential ugly legal battle in the future.