As you prepare to marry, you are likely not thinking about a potential divorce and what it could mean for your future. It may seem impractical and unromantic to think about how a divorce could change your life, but you could eliminate some of the uncertainty of this process by having a prenuptial agreement.
A prenuptial agreement is a tool that many North Carolina couples find beneficial. Even if you do not consider yourself to be wealthy, you may still reap the benefits of this type of document. A complete evaluation of your financial situation and other factors can help you determine if this is a smart step for you before you walk down the aisle.
Should you think about a prenuptial agreement?
One of the main potential benefits of a prenuptial agreement is having the peace of mind that comes from knowing there are terms present clarifying what will happen with property division and other related complications in case of a divorce. Some of the other reasons you may consider this option include the following:
- It can allow you to protect the financial interests of children from a previous marriage.
- You can include terms that could shield your small business from various negative consequences in the event of a divorce.
- Such an agreement could allow you to address the financial responsibilities of each spouse during the course of the marriage.
- It could limit the amount of financial responsibilities you may have to your spouse after a divorce.
If you are considering a prenuptial agreement, it is also helpful to be fully aware of the limits this type of agreement could place on you. This could include the following:
- It can limit your financial options in case the marriage ends in divorce.
- Your agreement may limit your inheritance rights in case your spouse dies.
- It might mean that you will not have a claim to a portion of your spouse’s small business interests after a divorce.
Learning more about these agreements can help you decide if this is the right choice for you and your unique situation.
Legal considerations before you marry
As you get ready to marry, it is prudent to lay the foundation for a strong financial future. For you, this may mean learning how a thoughtfully and carefully drafted prenuptial agreement could be beneficial for you. Having a prenuptial agreement does not mean you are planning for your marriage to fail. It simply means you are preparing for contingencies.