Friday 01 March 2024

Prenuptial Agreements – Important Things That You Should Know

Marriage is beautiful and so is living together with your partner forever. But not everyone is lucky enough to enjoy a happy married life forever. This is where prenuptial agreements In Atlanta become helpful. Such agreements are basically contracts that couples need to enter into before setting out the marriage. These contracts are helpful while deciding about couples’ plans for joint and separate finances beforehand.

Premarital agreements explain the understanding between two people on how they will handle separation. Don’t be mistaken thinking that such agreements mean separation after marriage. Know that premarital contracts do not mean separation but a secure future. Such agreements are not strictly needed for you but having one is not a bad option either. After all, everyone wants a secured future.

Now, are you wondering if you need to have a prenuptial agreement in Atlanta then the answer depends on following points? It’s good to have this agreement:

• If you are divorced already and getting married for the second time

• If you have kids from your previous marriage

• If you have a retirement account or own stocks

• If you own a house or have spent money in real estate

• If you have more assets and cash in comparison to your going-to-be-spouse

• If you are required to support your spouse’s family

By now you already have an answer if you or your fiance need to have such agreements before tying the knot. It’s time for you to recognize the benefits of these contracts:

Protect Separate Property

Your property belongs to you not your spouse until you state otherwise once you enter prenuptial contract. However, if you sell your property during the marriage then it might become a marital property. In either of the case, you need to mention these while signing the contract

Debt Protection

Such agreements give you and your fiance freedom to keep the debts separate. While entering the contract, debts are divided into pre-marriage debts and post-marriage debts. While it’s your choice to clear the pre-marriage debts, post ones require your participation until stated otherwise.

Divorce or End of Marriage

Prenuptial agreements are basically the preplanned assets settlement contract in case of divorce or end of marriage for some valid reasons including death of spouse during marriage period.

Special situations

Every so often, it is required for one of the partners to give up his or her career, and also relocate to other city. Such special situations are acknowledged by the contracts and a right compensation is given to the partner.

Why People Fail to consider Premarital Agreements?

Despite of knowing the advantages people fail to get such contracts for them for which they regret in future. There are reasons behind not agreeing to the paper work, and unfortunately these reasons are very silly which cost big money later on. Many of the people think that they will never separate from their spouse which is good. But, there is only one thing is known about future i.e. “future is unknown”. Having an agreement for secure future is helpful.

Another reason is people think that agreements are costly affairs. However, the reality is these papers are much cheaper on your pocket compared to the pain of unplanned separation people go through.

If you are a person who love to plan a secure future then you shouldn’t undervalue the power of premarital agreements. Get one for a secured future