Some people may think that prenuptial agreements are too cynical because they allude to the possibility of divorce. A pre-nuptial or pre-marital agreement is a contract that two people sign agreeing to terms in the event of the breakup of the marriage. So who needs a prenuptial agreement and when should this be considered?
Previous Marriage and Divorce
If you have previously married and divorced you know how messy the situation can get. Many couples spend thousands of dollars on lawyers and divorce proceedings. If you want to get married but don’t even want to consider the hassle of a future divorce the prenuptial agreement may be for you.
Assets and Wealth
If you both have large assets of cash and property you may want to consider the prenuptial agreement. This way there is no battle over who-owns-what and who-gets-what in the divorce settlement.
Lopsided Worth and Wealth
If one of you is the wealthy bread winner and the other is poor, you may also want to consider a prenuptial agreement. In relationships where there is an inequity of assets it is particularly important for the wealthier person to protect the property.
A Questionable Future
If you and your spouse-to-be both come from divorced families the chances of you getting a divorce raises from about 50% to about 75%. Planning ahead with a prenup makes a lot of sense in this case of double divorce backgrounds.
Whirlwind Wedding
If you have a quick courtship and decide to marry someone without knowing them very well you might consider the prenuptial agreement. Of course the irony here is that if you are impulsive enough to marry quickly, you will probably not consider planning ahead with a prenup.
Plan Ahead
If you like to plan ahead and have to have all of your proverbial ducks in a row, the prenuptial agreement is for you. Why not? Some people like to anticipate all future possibilities, some people do not.
Consider the Past in Planning the Future
If one or both of you have large issues in the past, you might want to consider a prenuptial agreement. Large issues might include: drug addiction, a criminal record, a history of mental illness or an inability to hold a job.
Brady Bunch Family
If you are marrying and melding children from previous relationships you may want to seriously consider a prenuptial agreement.
Again, while it seems somewhat negative and fatalistic to plan for the worst while getting married, a prenuptial agreement is sometimes an excellent way for couples to establish the ground rules in the case of their potential demise.
