Couples are often hesitant to get a prenuptial agreement, given the negative preconceptions attached to it. Many presume the existence of a prenuptial agreement means a couple expects the marriage to fail, but this is far from the truth. No one gets married with the hope of one day separating, but the fact is anything can happen and being unprepared for the unexpected can result in some serious problems. A prenuptial agreement simply provides a financial safety net in case spouses end up deciding to part ways in the future. Much like the emergency kit drivers keep in their vehicles, a prenuptial agreement might never get put to use, but that does not mean it is wise to enter a marriage without one.
Here are some of the best reasons you should consider drafting a prenuptial agreement with your soon-to-be-spouse:
- You will learn how to effectively compromise and communicate: For a prenuptial agreement to be considered valid, you and your future spouse will each require independent counsel. While this generally means your attorneys will do most of the talking, this process tends to go smoother when couples are able to communicate openly with one another about the issues at hand, the terms of the agreement, and the logic behind them.
Doing so will not only minimize the potential for surprises in the prenuptial agreement, but lay out some important groundwork for how you and your partner address important issues, understand each other’s needs, and concerns prior to tying the knot. Drafting a prenuptial agreement that suits both party’s needs can be complex, which is why reaching a successful resolution can strengthen your bond as a couple capable of tackling tough issues.
- Divorce can ruin a person’s credit: Nearly half of all marriages end in divorce in spite of efforts to remain together and make it work. Given this statistic, why would you risk not being prepared? Divorce can ruin a person financially. Without a prenuptial agreement, there is a good chance you will have to pay alimony and be responsible for some of your spouse’s debt.
- You will bypass a lot of stressful situations: When couples divorce, there is often a lot of frustration and arguing over who receives what. Having a prenuptial agreement in place will take care of financial matters during this process, saving you some time and some major headaches.
- You can shorten the divorce proceedings: Speaking of saving time, having a prenuptial agreement can shorten the proceedings. Assuming you do not have any other complex issues to battle over, you might keep your case out of litigation and settle things quickly through a process like mediation or arbitration. Shorter divorce proceedings mean you and your ex-spouse will save on legal fees.
- You will know what financial obligations to expect in a divorce: When couples divorce, property, assets, and debt are divided according to state laws. A prenuptial agreement renders those laws inapplicable. Instead, assets and debt will be divided according to the agreement. If neither of you wants to pay alimony, you can waive it in the prenuptial agreement or, conversely, set alimony in advance if a parent needs or wants to stay at home to raise any children you might have.
- Not everyone marries for love: While certainly many of us marry for love, there are others who do not. The truth is that fortune hunters are real. Some men and women get married strictly for financial gain, making a victim out of an unwitting spouse. A well-crafted prenuptial agreement will discourage individuals from getting married simply to acquire the other partner’s wealth. If a person’s motives for marriage are not financially driven, he or she should not have an issue with signing a prenuptial agreement that protects both of you.
- It will lessen the stress of your marriage: Knowing there is a safety net beneath you will make you feel less stressed. A prenuptial agreement simply acknowledges that not everything goes as planned and happily ever after is not always forever. Crafting this agreement at a time when you are both on good terms ensure that it is fair to both of you and knowing that it is there to catch your fall will put less stress on your relationship.
Panama City Divorce Attorneys
At The Virga Firm, P.A., we understand that divorce is a difficult decision to make, even under the most amicable circumstances. Emotions are running high and there might be some resentment, anger, and disappointment. We strive to deliver personalized, knowledgeable and compassionate advocacy to every client we serve, so you are able to reach a fair, swift, and agreeable resolution. Having represented hundreds of clients before, we know what it takes to ensure our clients are able to achieve their goals and protect their best interests, so they can move forward with a new and happier chapter of life.
If you are considering a divorce, or have been served divorce papers by your spouse, you can find the trusted counsel you deserve at our firm. Backed by a team of lawyers with a proven track record of successful case results, we dedicate ourselves to getting to know you and your unique set of circumstances so we can effectively represent you and your interests. Our Panama City legal team has decades of combined experience, which we will utilize to your advantage. You should not have to go through this alone and risk making a costly mistake.
We are ready to vigorously defend your legal rights. Contact The Virga Law Firm, P.A. today at (850) 257-7086 to schedule your initial consultation with a skilled member of our legal team.