Modern Day Weddings: Why You Should Get a Prenuptial Agreement

Posted December 20, 2022 by in Lifestyle

Marriage in today’s modern world looks a lot like marriages of the past, but there’s something different about it for sure. As long as there has been marriage, there has been divorce and there’s been prenups. Of course, 2,000 years ago it wasn’t called a prenup, but it was a legal document that spelled out the terms of a potential divorce. But prenuptial agreements became more of a standard thing in more recent history. And a prenuptial agreement isn’t just for celebrities and the rich. They’re for regular people who are interested in protecting their interests in the event that they decide to dissolve their marriage. Here’s why you should consider a prenup before you walk down the aisle.

Neater Divorce

A great Salt Lake City family law attorney Utah will tell you that if you have a prenuptial agreement in place, your divorce is more than likely going to go pretty smoothly. There won’t be a lot left to hash out and the divorce can be finalized more efficiently. If you’re going to enter into a civil partnership, you can do a pre-registration that is structured in the same way as a prenuptial agreement. 

Protect Your Wealth

In the event of a divorce, it’s nice to know that a prenuptial agreement protects your and your spouse’s wealth. If you live in a community property state where the marital wealth and debt is split 50/50, this can make a big difference in your personal wealth. It is preferable to discuss and agree upon the distribution of marital assets before things go sour and the court has to draw the proverbial lines of demarcation. Debt is a real bear, and being saddled with debt that doesn’t really belong to you is a nuisance. A well drafted prenup will detail how debt is handled. A prenup can even protect our future income. If you’re building a business or on a specific career trajectory, adding a clause to protect future income is a great idea.

Pension Retainment

A prenup is also a very smart move for those who are marrying later in life. If you want to ensure the whole of your pension to yourself, then you’ll want to draft a prenuptial agreement. And likewise, if you’re coming into an inheritance or the maturation of premium bonds, a prenup will also protect these assets.

Now, there are things that a prenup does not cover, and it’s important to understand this. Child custody and support and illegal, personal and lifestyle matters are not part of a prenuptial agreement. If you’re feeling uncomfortable about requesting or drafting a prenup, think of it like a will. Just as a will spells out how you want your assets to be handled when you pass, a prenup details how you want assets to be handled if/when the marriage passes. A prenuptial agreement doesn’t mean that your marriage is going to end in divorce, it just means that you are prepared for possible outcomes. If you never have to enact the agreement, that’s wonderful. But you’re better safe than sorry.