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The potential benefits of a prenup

| Jan 7, 2021 | Divorce |

One of the most common misconceptions regarding a prenuptial agreement is that it’s only meant for couples in Georgia and around the nation who are wealthy or who have a large number of assets to their name. However, a prenup is also recommended for just about anyone as a means to protect themselves in the event of a divorce. Are the benefits really worth the trouble of drafting a document? Read on to learn the potential benefits of a prenuptial agreement for marriage.

Increase communication

No matter how awkward it can be, discussing a prenup with your soon-to-be wife or husband is important to keeping communication open and friendly. In fact, family law attorneys encourage this as it helps to clear the air surrounding finances and other issues that might cause trouble later.

Avoid debt

One of the most common ways people get into financial trouble is not discussing the debts their new wife or husband is bringing into the marriage. A prenup may protect you from having to pay a portion of that debt off in the event of a divorce.

Save time and money

Even the most cooperative divorce can be costly and lengthy. The reason for that is due to the division of marital assets, which must start from scratch if no prenup was created before the marriage. If a prenup were created, then many of those issues of division would have already been dealt with, thus saving both parties time, money and headaches.

Protect family heirlooms

An unfortunate part of going through a divorce without a prenup is that one or both parties will be in danger of losing a family heirloom. The courts do not see any property in terms of emotional attachment and thus will treat it as a regular item. This is another reason why creating a prenup is incredibly important.

Taking the time to create a prenup can be quite daunting. That is why it is so important to consult with an attorney throughout the process as a means to avoid making any legal mistakes.