When many couples begin the next phase of their relationship, many people consider drafting a prenup before their marriage begins. You may have considered writing up a prenup, but your future spouse may be pushing for you to skip that step.
It may not be clear why your future spouse wants you to forgo a prenup, but it’s made you question if you need one. Here’s what you should consider:
Do you need a prenup?
It’s typically believed that only the wealthy ever need to consider making a prenuptial agreement. They may want to protect their assets if anything were to happen in their relationship. But, people with modest incomes obtain prenuptial agreements now more than ever.
Some people write a prenup to ensure their children from another parent are given an inheritance if they were to die. A surviving spouse may be able to take a larger amount of your assets, leaving little for your children.
Others consider getting prenups in the event there are issues in their marriage. It could create less difficulty in determining how property is divided in a divorce – which can be particularly important if you want to start your own business.
You may even consider how alimony is established in your prenup. That can actually ease tensions on both sides since your spouse will know they’ve got some security if the marriage fails.
What if you don’t write a prenup?
Some people may never know they have a choice to write up a prenup before their marriage – or they didn’t know how to bring it up and now regret not having one. If you’re married without a prenup then you might consider getting a postnuptial agreement. In many ways, a postnup is the same as a prenup, only it’s written after you’ve been married.
If you’re still unsure if you need a prenup, or you’re considering getting a postnup, then you may need to know the right steps to make sure everything is valid.