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Should you consider a prenuptial agreement?

No one gets married thinking that it will ultimately end in divorce. For this reason, many Utah couples fail to think about how to protect their interests in case this happens. It may not seem romantic, but it can be advantageous to consider the benefits of drafting a prenuptial agreement. 

A prenuptial agreement is not something that only the rich and famous need. Anyone, no matter his or her income level, could benefit from the protections provided with this legal document. If you are planning to marry in the near future, what do you have to lose from taking steps to protect your future financial interests?

What are the benefits of a prenuptial agreement?

In its most basic form, a prenuptial agreement outlines how marital property will be divided in the event of a divorce. However, these documents can actually be quite specific, allowing you to maintain a certain element of control and helping you avoid litigation in the event that the marriage ends. If you are on the fence about the necessity of a prenuptial agreement, consider the following benefits:

  • This document can protect the inheritance rights of your children, which is particularly important if it is not your first marriage.
  • A prenuptial agreement can ensure that one spouse does not walk away from the marriage with an unfair portion of marital debt.
  • This can allow you to protect your interests in a small business or professional practice.
  • This agreement can allow you to protect your future financial interests if you do not work during the marriage or after your children are born.
  • These agreements can address issues such as spousal support and other issues unique to individuals who support children from previous marriages.

Prenuptial agreements are popular among people who have significant wealth or other valuable assets. However, it can be a practical choice for people who simply want to protect their interests or ensure that they can avoid litigation in the event that a marriage ends.

A happy financial future

It is not easy to think about needing a prenuptial agreement before you even get married, but it can lead to beneficial discussions about things such as financial responsibilities, mindsets on money and more. In fact, it can also provide you peace of mind knowing that your interests are secure.

If you are unsure if you could benefit from a prenuptial agreement, you may find it useful to seek a complete explanation of your rights and the legal protections available to you.

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