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Prenups can help with more than just asset protection

On Behalf of | Jun 15, 2017 | Family Law |

Many things can make younger marrying couples different from other married couples. For one, younger couples may be more likely to not have much in the way of assets going into a marriage. This might lead some young couples to assume that getting a prenuptial agreement wouldn’t really be that much of a help to them, as they might not have many assets to protect.

While a prenup can be very helpful when it comes to asset protection, this is far from the only important role such an agreement can serve. So, a couple heading towards marriage doesn’t have to be rich for a prenup to potentially be beneficial for them.

Examples of things beyond asset protection having a prenuptial agreement could help with are:

  • Reducing future divorce acrimony. It is a reality of our world that some marriages end in divorce. The greater predictability clear divorce-related terms in a prenup could create if a married couple does end up going into divorce could help reduce potential flashpoints that could push a divorce to the very acrimonious side.
  • Protecting one’s reputation in the future. A person’s reputation can be incredibly important to them, both personally and professionally. Prenups can have terms putting restrictions about what information the members of a couple can make public about each other and what they can say about each other in public forums in the event they divorce.
  • Setting clear expectations on debt. Some couples build up a fair amount of debt. When such couples divorce, what happens with the debt they have can be an issue of major importance. Prenups can contain terms on how debt division would be handled in a divorce.

So, simply dismissing the idea of having a prenup due to not having much in assets could lead to a couple missing out on some things they might really wish they had in place if they do end up divorcing some day. Each couple has their own unique concerns as they are headed into marriage. When making decisions regarding whether to have a prenup, it can be important for a couple to understand whether a prenup could potentially help with such concerns. So, prior to getting married, a person, whether young or old, may want to discuss what things a prenup might be able to help with given their particular situation with an experienced family law attorney.