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The value of prenuptial agreements

On Behalf of | May 9, 2022 | Divorce

When a New Jersey couple plans to marry, they understandably might not wish to discuss potential scenarios about a future divorce. However, those wishing to protect their assets and finances might need to do so. If the marriage does not work, signing a prenuptial agreement could help protect both parties’ financial well-being.

The value of a prenuptial agreement

A common misconception about a prenup centers on the belief the agreement supports both spouses leaving the marriage with what they entered. While the agreement may have such language, prenups might establish a monetary settlement and alimony amounts. This way, a spouse of lesser means does not suffer a decrease in any standard of living after many years of marriage.

Discussing a prenuptial agreement might allow the spouses to look at a broader financial picture. They may address taxes, borrowing, spending, budgets, and more. Such financial planning could help in many ways.

Also, if the marriage ends, a prenup may result in a less costly divorce. The contract could make settlement negotiations and a court trial unnecessary.

Understanding the value

Discussions about premarital agreements bring images of divorce front and center, which isn’t an upbeat scenario. One spouse could become offended at signing such a document, while the other may feel concerned about protecting their assets. So, there are some understandable worries about broaching the topic.

Still, the value of a prenup could make all the effort worth it. In the end, both parties may feel the agreement represented the right decision. Be aware that even those already married could explore their options with a post-nuptial agreement.