More and more couples are turning to prenuptial agreements to have more control of their assets during their marriage and effectively plan for the future. Though some still believe that prenups can only help wealthy spouses, prenups are actually beneficial to couples of any financial status. Still, if you don’t know too much about these marital agreements, you might wonder about the pros and cons of creating a prenup with your partner. No need to worry because our knowledgeable law firm has all the answers you’ll need! Continue reading this blog to learn more about prenups, or reach out to a Somerset County Prenuptial Agreements Attorney today for individualized legal counseling.
WHAT ARE THE PROS AND CONS OF CREATING A VALID PRENUP?
Most legal professionals agree that the pros of a prenup outweigh the cons. Listed below are the most common pros and cons of these marital agreements:
Pros:
- Forces future spouses to openly discuss their finances. If you’re committing to sharing your life with someone, you’ll want a clear idea of their financial status. Open communication strengthens marriages, so it’s better to be honest with each other.
- Control over your assets. Without a prenup, a judge might decide how your marital assets are split if you end up getting divorced. Avoid this by making these decisions now using the prenup. This protects your property for family and friends too.
- It saves time and money in the future. A valid prenup reduces the cost of divorce because you likely won’t need to go through litigation. You also won’t need to worry about spending too much time making these difficult decisions when you’re in an emotional state.
Cons:
- It could possibly favor one spouse. There’s a chance a spouse could use a prenup to establish control over the other spouse. However, this can be easily avoided by hiring a lawyer who can review your agreement.
- Discussing the possibility of divorce can be stressful. The last thing you want to think about before getting married is divorce. Sometimes difficult conversations are necessary to prevent future stress.
HOW CAN I GET THE MOST OUT OF MY PRENUP?
Since the legal intricacies of creating a valid prenuptial agreement can sometimes be complicated, it’s always best to connect with a trusted lawyer who can at the very least offer advice. Also, make sure that both you and your partner fully disclose your entire finances. It’s never good to lie about something on a legal agreement, and misrepresenting your finances could possibly deem your prenup invalid later down the line.
Are you considering creating a prenuptial agreement with your future spouse in New Jersey? You might want to speak with a dedicated family law attorney who can guide you both through the legal process. Thankfully, our highly experienced legal team is on your side! Contact Siragusa Law Firm today for an initial consultation.
