Over the past two decades, prenuptial agreements have become more popular for new couples. A prenup, as many call it, is a legally binding contract that a couple enters into prior to marriage. The contract is like an insurance policy in case the marriage ends in divorce. Most of the time, the prenup will divide a couple's property, debt, and other financial assets without going through a messy divorce. Setting up a prenuptial agreement can be straightforward and couples can view it as just another pre-wedding task to tick off the list. Consulting the marriage and prenuptial agreement experts at Vayman & Teitelbaum can help guide you through the process.
Reasons to Get a Prenuptial Agreement
It is a fact of life that some marriages will end in divorce. According to the American Psychological Association, between 40% and 50% of all marriages in the United States will end in divorce.
The insurance a prenuptial agreement provides keeps you from losing property and money that has taken a lifetime to accumulate. So, when should you consider having a prenup in place by the time you walk down the aisle.
If...
- you earn more money than your spouse
- your spouse is in debt
- you own a business
- you are wealthier than your spouse before the marriage
- you are remarrying
How Can a Prenuptial Agreement Save You?
When a couple chooses to divorce, it is not usually an easy decision. However, it is often a necessary decision. In the case of a divorce, the laws of Georgia will divide the couple's property according to the rules of the land. If a couple has entered a prenuptial agreement, however, the property is divided based on the pre-marriage agreement.
A prenup can also prevent future arguments between couples, which can stop a divorce from occurring in the future. One of the main reasons given for divorce is arguing, and the main topic behind couples arguing is often their finances. Financial matters play a major part in any marriage and having a prenuptial agreement in place can prevent financial frustration. Not all spouses are totally honest prior to marriage and over time pre-wedding financial mismanagement can appear.
By signing a prenuptial agreement, both spouses will divulge information. The agreement will specify the financial matters each spouse must attend to without burdening the partner. The prenup actually forces a couple to speak about finances before it is too late.
Benefits of a Prenuptial Agreement
There are more benefits to a prenup than saving your finances and property. By setting up a prenuptial agreement, couples improve their communications skills. Communication is one of the most important parts of any relationship, and couples that work together to create something as simple as a prenup can work to build a lasting life together.
Law Firm of Vayman & Teitelbaum
The law firm of Vayman & Teitelbaum can help you set up a prenuptial agreement in the most comfortable way possible. With four locations in Georgia, Vayman & Teitelbaum, Attorneys at Law is available to give you insight on making the right decision for both you and your future spouse. Visit our prenuptial agreement section to see how we can help you. If you have any questions, contact us and let our experienced attorneys in family law go to work for you.