Prenuptial agreements or premarital agreements are often misunderstood. Some people think that these useful legal contracts are only needed for extremely wealthy couples. Others assume that only those with little faith in their relationship’s long-term sustainability would sign a prenup. In reality, prenuptial agreements can benefit couples of all income levels and lifestyles. Furthermore, signing a prenuptial agreement does not mean that a spouse plans to eventually divorce. Couples with strong, healthy relationships frequently use premarital agreements to define property rights and financial expectations during the marriage.
Legal Protections Offered by Prenuptial Agreements
Many people are initially hesitant to even consider signing a prenuptial agreement because the contract largely deals with divorce concerns like property division and spousal support. However, it is important to realize that even the best marriages sometimes end. Even if a couple never divorces, premarital agreements can address property rights upon a spouse’s death.
Premarital agreements can be customized to meet the spouses’ specific needs. Often, premarital agreements are used to:
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