As you are preparing to walk down the aisle, you are probably not thinking about how your marriage may end at some point in the future. While thinking about a potential divorce before you even take your vows may seem counterintuitive, it could actually be in your best interests to do so. One productive way you can do this is by creating a prenuptial agreement. This is a contract that will outline how you will divide marital property in case of a divorce.
Having a prenup does not mean that you are assuming your marriage will fail. It is simply a way for you to protect your financial interests in case of a contingency in the future. You may assume that you do not need a prenup because you are not wealthy, but North Carolina couples of all income levels will benefit from this type of agreement.
Considering the benefits of a prenup
A prenup is a marital contract that outlines how a couple will divide their marital property in case they divorce. Like other types of contracts, you can custom tailor your prenup to suit your needs and objectives. In your agreement, you can include terms that will outline financial responsibilities for each spouse during the marriage, how you will divide marital debt and how you will address spousal support. While these agreements can benefit most couples, those who will find it particularly beneficial to draft one include couples in which:
- One or both spouses have been in previous marriages
- One party is significantly wealthier than the other
- One or both parties have children
- One party wants to be a stay-at-home parent
- One or both parties own a business
- One party is entering the marriage with a significant amount of debt
- One or both parties received or expects to receive an inheritance
A prenuptial agreement removes the need to fight over property and money during divorce. It allows you to protect your separate property and provide you peace of mind for your future.
Protection and security
The intent of a prenuptial agreement is not to assume that you will divorce, but it is to provide you security and protection for the future. You can custom tailor your prenuptial agreement to suit your individual needs and objectives, and an assessment of your case will help you understand what terms you will need to include in your prenuptial agreement.