USA: 5 Reasons a Prenup Is Right for Anyone29 June 2020
- It is insurance. You get medical insurance not because you are sick, but so that in the event that you get sick you have insurance to help you out during an already stressful period. A prenuptial agreement (or “prenup”) does not mean that you are expecting your marriage to end or that you are not in love with your spouse, it just means that you want protection in the event the unthinkable happens. It is better to have it and not need it, than to not have it and need it later on.
- It provides full disclosure. The drafting of a prenup forces couples to discuss difficult topics suchas finances, assets, and any debts in detail. The main way to invalidate a prenup is to say there was not proper disclosure. When getting a prenup drafted your attorney will require you to share important documents with your soon-to-be betrothed to ensure that you have both fully disclosed the value and nature of all assets and liabilities, and that you have discussed and agreed about how to split these things.
- Take the “guesswork” out. In the event you and your spouse do find yourself in a position where you would like to file for divorce, then the stress of dividing your estate is no longer there. The divorce process can be stressful, unpredictable, and in some cases contentious. The prenup can give you security and confidence that a major factor of the divorce is already handled. Besides, it might be better to decide these emotional topics while things are still amicable.
- It can be a wise investment. Getting a divorce can be expensive. There are a host of different costs and fees that can arise during the process, especially if the marital estate is large and/or if the parties struggle to reach an agreement on how to split assets, debts, and other property. Coming together at the beginning to draft this contract can help reduce costs on the back end, should a divorce occur.
- It is your prerogative. Anyone can get a prenup! It is not just for celebrities, it is for anyone who wants that safety net. A prenup is just an agreement between you and your spouse that says how you would like to handle your assets, debts, property, and even spousal support. Regardless of age, race, sexual orientation, or social class, anyone can get a prenup if they want one.
If you have any questions regarding the above issues, please contact:
Adesewa K. Egunsola, Attorney - Family Law
t: +1 (610) 840 0284
For more information on MacElree Harvey, please also contact:
J Christopher Erb, Partner
t: 1 (610) 993 2690
MacElree Harvey, Ltd, West Chester, PA
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