Reasons to Get a Prenuptial Agreement
1. Future Security
If you have a lot more assets than your spouse than you may want to enter into a prenuptial agreement to protect your property and as prove that your spouse is marrying you for you and not for your money
2. Protect Wealth
If you are in a high earning job and you are earning a lot more than your spouse you may want to take out a prenuptial agreement in order to protect the money that you make during your marriage. In a divorce your spouse will become entitled to anything that you made during the marriage.
3. Protect Against Debt
If your spouse has debt that they incurred before the marriage you may want to take out a prenuptial agreement in order to protect yourself from becoming partly responsible for the debt in the event of a divorce.
If you are remarrying then a prenuptial agreement can prevent your assets automatically going to your new spouse in the event of death. You may have children from a previous marriage who you would want to inherit your property or an ex-partner who still receives spousal support and you would like to ensure they are protected if you were to pass on.
If you own a share in a business your spouse could become entitled to your share of the business if you were to pass on. A prenuptial agreement can ensure that your business will go to whomever you would like.
6. Protect State Plan
A prenuptial agreement can also help if you have plans for your estate which you would like to protect from interference from your spouse.
7. Future Spousal Payment
If you are not earning as high a wage as your spouse you can protect yourself in the event of a breakup by stating in the prenuptial agreement that your ex-spouse must continue to pay you spousal support after your separation or divorce.
If you and your spouse have children you can declare who will have custody after divorce in your prenuptial agreement. You can also outline the future arrangements for child support payments which can especially be useful if you are having to quit work to look after your children which could leave you in a less favourable position in the event of a divorce.