Marriage or wedlock is a legally and socially recognized union between two people. Spouses have rights and obligations to fulfill to make this bond work. No doubt marriage is the most important institution of human society. It is an event of celebration for the two parties and it is easy to get swept away in emotions and not think of their future. However, investing in prenuptial agreements can protect and prepare individuals before marriage.
Considering the rise in divorces, it is wise for a couple to consider prenuptial Marriage agreements before marriage to secure their future. In this blog, we will shed light on reasons based on which adults should consider having a prenuptial marriage agreement before marriage.
Table of Contents
1. Your Partner Is In Debt
In prenuptial agreements, the couple closely observes their finances to avoid any inconvenience later. If your partner is in huge debt, it’s high time to get a prenuptial marriage agreement. Doing so ensures that you won’t be held liable for your partner’s debt if your marriage ends at some point. Securing your future is always a good idea as no one has seen the unseen.
2. Complications Of Remarrying
Legal and financial concerns vary and are a lot different when you are thinking of remarrying again. Having a prenuptial marriage agreement can save a lot of complications and trouble in such a case. As you might have children from the last marriage, have significant assets, obligations, etc that can not be overlooked. Having a prenuptial agreement can ensure that after you pass away, your assets are distributed according to your wishes and none of your family is neglected.
3. You’re More Financially Stable Than Your Partner
People often marry the person for their assets and wealth. If you are wealthier than your partner and earn more than them then you should get a prenuptial agreement to ensure you do not get married for your wealth only but your real self. In addition, it also limits the amount of alimony payable in alimony issues. The amount of spousal support that is to be paid is often expensive, to avoid it a prenuptial agreement is your best shot.
4. Divorce Can Cause Financial Ruin
While no one wants to think of ending a marriage before it even gets started, it’s important to not subside the reality check. According to an article published in a US magazine, approximately 40-50% of marriages end in divorce. With that being said, it is important to have a prenuptial agreement signed to avoid any future complications. Ending your marriage unto a divorce can shake pretty much everything for you, it includes your financial stability, retirement savings, and credit rating. Having a prenuptial agreement can protect you in such scenarios without ruining you financially and mentally. Even if you live in other countries as a retiree, you still need the services of a Thai divorce lawyer or any equivalent legal practitioner for your protection.