Many couples have a prenuptial agreement signed before the wedding day. Although, you only hear about the rich having these agreements or people with trust funds or businesses, a prenuptial agreement is for anyone that needs to protect his or her future.
This may be money or it make be their credit. The one thing that most people find appalling about the prenuptial agreement is that it seems to limit them and makes them feel as if they are not trusted. This could not be farther from the truth. Sometimes, a prenuptial is needed to protect both of the parties entering into marriage.
Prenuptial for Money Reasons
Many couples have a prenuptial because on or the other has money or a business that they do not want to lose if the marriage does not work. This agreement usually states how much money the other would or would not get in the event of a divorce. It can also be set to divide the estate in the event of death for either party. These agreements are signed by each party before the wedding. Some brides and grooms are offended by the prenuptial agreements. If you love someone, you may feel no need for the agreement, but some people feel the need to protect their assets.
Prenuptial for Credit Reasons
If one or the other has a bad credit history with debt associated with it, a prenuptial agreement can stipulate that one or the other is not responsible for the others debts. If you have debt collectors hounding you, this agreement will prevent them from seeking monies from your new husband or wife. This type of agreement can protect your future if your debt is substantial.
Many couples have bad feelings when presented with the prenuptial agreement to sign. They feel that they are not entering into a marriage as a partnership. They feel that the prenuptial should not be an issue if they love each other. It is possible and has happened, that one of the parties refuses to sign the agreement and the marriage is called off. If you will have a prenuptial agreement, you have to present it to your partner in a way that does not sound cold and uncaring. You have to know how to explain it and explain why it is needed. The last thing that you want to do is lose someone you love because of this agreement. Some people will feel that this is a trust issue and winder if the marriage is going to work.
If you are planning a wedding and one or the other of you feels a need for a prenuptial agreement, you should talk to each other so that there are no surprises while you are planning the wedding. You have a better chance of getting married if you do not just spring it on someone. Tell him or her why the agreement is necessary and how it will affect the both of you. This is important if you want to have trust in the marriage.