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April 28, 2019

Understanding Prenuptial Agreements – Who Should Get A Prenup And Why

Considering a prenup before tying the knot?

It’s becoming more and more common for couples to sign prenuptial agreements before they get married.

And with what’s been going on with Jeff Bezos, a tech giant worth $137 billion USD and him not signing a prenup…

It’s easy to see why this topic has blown up recently.

Maybe the idea makes you a little uncomfortable, or maybe you believe in it wholeheartedly and think it’s stupid to jump into marriage without one.

Either way…

Here are 2 major signs a prenup might be right for you

#1. You and your partner’s income isn’t equal

Maybe one of you earns a bit more (or a lot more) than the other. Things can start to get a bit messy when things go bad. In these situations, it may make both of you more comfortable to organise a prenuptial agreement.

#2. You and your partner’s assets aren’t equal

Maybe you have a few hundred thousand dollars in life savings, while your partner has 0.

Or maybe you own a business and things are really starting to take off…

If one of you has a lot more assets than the other, it’s definitely a smart investment to get a prenup signed.

Why should I get a prenuptial agreement?

#1. It’s not as messy as a postnuptial agreement

You set expectations and lines down straight away. Instead of turning back around several years down the track, you enter your marriage with everything organised fairly and with mutually agreeable terms.

That’s much better than bringing up the topic later on.

#2. You don’t ruin your partner’s life if things go bad

If one of you decides to become a stay at home mother or father because of children…

They’ll be out of the workforce for a considerable amount of time.

Imagine how difficult it would be for them if somehow things turned sour and you separate…

How would they go back to work on? They might even spend months searching for a job that puts them in a worse position than they were to begin with…

Having a prenup keeps everything fair. And isn’t that what a relationship is all about?

Have any questions about prenuptial agreements? Leave a comment below and I’ll respond.

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