In the minds of those who are engaged to be married, the words ‘prenuptial agreement’ is a dirty word with a negative implication. For the practical thinker, a prenuptial agreement is a smart arrangement that prepares for the worst-case scenarios should a divorce arise. It answers the question, “What would happen if…?” It also saves both parties a tremendous amount of confusion, headache, and heartbreak should future, unforeseen issues arise.
Below are six common situations that can happen when a couple gets divorced. These scenarios should be enough to make a couple think seriously about making arrangements before they say “I do.”
Inheritance Rights of the Children
Children often suffer the most during a divorce. They can often be the victims when it comes to figuring out financial matters once a married couple has signed the papers. A prenuptial agreement can ensure that children benefit from an inheritance regardless of the reasons for the divorce.
Protect Your Business
A divorce can gut out what would otherwise be a lucrative business practice. If you own a business, you owe it to yourself to protect it from a divorce. Otherwise, your ex-spouse may use the business as a means of control or securing future revenue long after the marriage has been dissolved.
Protection from Debt
If your spouse brings a lot of debt into the marriage, then you won’t want to be responsible for that debt after the divorce finalized. A prenuptial agreement will absolve you of all debt responsibility.
Quitting Your Job for Marriage?
Sometimes it may be necessary to give up a solid career in order to get married. If you’re the one resigning from a lucrative position for your marriage, then signing a prenuptial agreement can guarantee that you will be compensated for lost income in the event of a separation.
Who’s Making the Decisions?
Divorce creates a lot of unforeseen issues that can create tension while going through the process. A prenuptial agreement can clear up any confusion for all decisions that have to be made about issues such as the house, finances, and children.
Setting Alimony Limits
If you don’t want your former spouse to drain your finances after the divorce, then a prenup can set a cap on how much you have to pay out. This is especially useful if your income increases exponentially after the divorce. You can set the alimony limit and keep it there for the duration of the court ruling.
Mestayer Law Firm specializes in both marriage and divorce legal issues for clients in Pascagoula, Mississippi and the surrounding area. We can help you navigate all prenuptials and finalize your legal documents. Call us today at 228-762-1193 or visit www.pascagoulalaw.com. We are your legal experts!