It used to be that prenuptial agreements were solely the provenance of the rich and famous, but that is changing. While many may find that prenuptial agreements lack overt romance, the practical nature of a good prenuptial agreement is gaining traction among middle-class marriages.
There are as many different flavors of prenuptial agreement as there are marriages. According to Forbes Magazine, in many cases you may not strictly need a prenuptial agreement, but they are still worth considering thanks to the protection they can provide both parties.
When do I need a prenuptial agreement?
The one situation where a prenup is vital is if one or both parties own businesses. Having a prenuptial agreement can help distribute marital property in the aftermath of the divorce, since the prenuptial agreement will outline which parts of the business are such property (if any).
Another very common reason for prenuptial agreement is if one party comes into the marriage with considerably more assets than the other party, including potential inheritance.
What else can a prenuptial agreement do?
Prenuptial agreements can also help ensure confidentiality between spouses when it comes to certain varieties of information: most commonly these are medical or financial matters. You can also outline the conditions of spousal support, which can be very helpful if the couple is planning on having one member stay home to raise kids while the other is gainfully employed.
Having a solid prenup in place can help mitigate many problems. And, in the event that the marriage ever does end, the blueprint of the prenuptial agreement can help make the process much more equitable and stress-free.
