What is a prenup? Many people have likely heard of a prenuptial agreement before. Colloquially known as a prenup, these agreements have existed for quite some time, but why get a prenup?
Despite the stigma that once surrounded them and continues to persist in some form, prenuptial agreements have numerous benefits. After all, marriage is a contract.
Why You Should Get a Prenup
It Makes Couples Have Hard Money Conversations
U.S. News takes a look at the benefits associated with prenuptial agreements. One might come as an unexpected benefit: the ability to discuss money and finances. Financial matters often rise to the top of people’s reasons for getting a divorce. After tying the knot, many discover that their financial lifestyle is incompatible with how their partner views or treats money.
Talking about things via a prenup can actually help couples establish these boundaries and discover these things before jumping into the marriage.
A Prenup Can Reduce the Time and Money That Goes Into a Divorce
If you actually do get a divorce from your partner, having a prenup in place can drastically reduce how much time it takes you to get through a divorce. Understanding how marital assets are divided in divorce pushes some newlyweds towards getting a prenup.
For many people, the categorization and division of community assets make up the longest and most costly part of the process. Having a prenup takes care of that.
A Prenup Gives You Agency
Finally, for ‘why get a prenup,’ this not only allows a person to protect their assets in the event of a divorce, but it also puts the power of decision-making in their hands. In divorce, many people have to leave their assets to the court. But with a prenup, things get decided only by the two involved in the marriage, which is a benefit many love. This keeps angry ex-spouses from removing marital property before divorce.
For more information, contact a Tampa family law attorney today.
