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How does a prenuptial agreement help you in divorce?

Prenuptial agreements are known for their negative connotations. Feelings of mistrust and anxiety may arise when this topic is addressed by engaged couples. For many, creating a prenuptial agreement implicitly suggests a marriage may end in the future. Speaking of this before a marriage has even begun is uncomfortable and difficult.

However, marriage is not an infallible institution. In the event of a divorce, if that ever happens, a prenuptial agreement can save a lot of hassle and money in the long run. As long as the agreement is legally binding and lawful, all states will most likely find a prenuptial agreement valid.

So what does a prenuptial agreement do for you? At its core, it defines what is shared property and what is individual property. This property can be assets like a house, an inheritance and other valuable possessions. It can be a business or an individual's savings. By declaring it as separate property, it will not become shared in the event of a divorce, and the spouse it belongs to will retain sole ownership should the worst happen.

Additionally, a prenuptial agreement can prevent individual debt from becoming marital debt, describe the management of bank accounts and declare savings contributions or expectations for each spouse. It is a flexible document, and a lot of financial-based issues can be addressed in a prenuptial agreement.

In the end, a prenuptial agreement is an important document. If anything, it will provide a structured way for you and your spouse to discuss important financial matters before you are married. Should you get a divorce, then it will be even more important to have a valid prenuptial agreement.

If you think a prenuptial event is in your best interests, you may want to consult an attorney to help you through the process.

Source: FindLaw, "What can and cannot be included in prenuptial agreements," accessed Sept. 13, 2017.

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