When you’re planning on getting married, there are a lot of things that you will be thinking about. Something else you may want to consider is a Prenuptial Agreement with your partner. But who needs a Prenuptial Agreement, and how does it benefit couples? Here is everything that you should know.
What is a Prenuptial Agreement?
A Prenuptial Agreement (also referred to as a Pre-Nup), is a document which provides details of the assets between a couple to be wed, and how said assets will be divided if they were to ever get divorced. Although they are not legally binding, if a Prenuptial Agreement is presented in court, they are almost always seen as valid.
Once you are married, all your personal assets will likely become shared, such as your finances and any properties that are purchased. A Prenuptial Agreement will cover any important or expensive assets such as these, so in the event of a divorce, there are no nasty surprises or unexpected payments.
A Prenuptial Agreement essentially allows you and your partner to rationally decide who is entitled to what in the event of the marriage ending – at which time, doing so may become more difficult.