To Nup or NotWhen you finally find Mr. or Ms. Right and believe that this is the “one” to last forever, marriage may be considered. What if you are wrong and find that it will not stand the test of time? A prenuptial Agreement is a legal document to address the financial consequences of a marriage ending. This goes hand in hand with a will with the intent of having you decide what happens to your assets rather than having the government make the decisions.Although prenuptial agreements bear a stigma that implies stinginess there are many reasons why they can be mutually beneficial and have more to do with protection of your wishes rather than any miserly motivations.
- What if there is a great disparity in the wealth of you and your partner?
- What if there are children from prior marriages?
- What if one partner has deep felt convictions concerning a cause or a charity?A prenuptial agreement, or at least discussing this topic prior to marriage, may ensure that your wishes are fulfilled. It may also reveal that this is a deal breaker, in which case it is better to find that out sooner than later.