Blog

26Jun
2020

Four Reasons to Consider Signing a Prenup

People don’t buy insurance policies because they hope to get sick but because they know bad things can happen and want effective ways to deal with adversity. Many people dismiss prenuptial agreements, commonly referred to as “prenups,” as “too unromantic” or “only for the rich and famous,” but they’re actually practical tools for planning for the unexpected. They can strengthen your relationship, foster communication, and help prevent stressful and expensive disputes down the road. In today’s blog post, we’re looking at some of the reasons you may want to consider signing a prenup.

1. Peace of mind that you’re marrying for love, not for money.

As couples put off marriage until they are more mature and settled, they have often built businesses and some financial security of their own. Other people may expect inheritance from their families. Prenuptials are an excellent way to put aside worries about what happens to those assets if things go wrong or in the event of death. 

2. Ensure support if things don’t go according to plan.

Prenups allow couples to avoid disputes about support in the event a marriage is dissolved. What happens if both parties continue to earn good incomes during a short marriage can be very different than what happens after a long marriage when one of them spent years raising children.

3. Avoid being held responsible for debt that isn’t yours.

Maybe you love that guy but you worry about the way he uses his credit cards. Take care of that in a prenup. Debt can last longer than love. A prenuptial agreement can address what happens to debt one party may take on during the marriage that might otherwise be considered the couple’s debt. 

4. Make it easier for your kids if something happens.

You can’t make a parenting plan in a prenuptial agreement but you might want to use one to make an agreement about who will pay for college or how wealth may be distributed to them in the event of death. Also, a prenup may help couples with children avoid bitter disputes about money that can make a difficult situation much worse for the children, young or old. 

I’ve decided to create a prenup agreement with my fiance. Who can help us?

Irwin Kuhn can help you strengthen your relationship with a prenuptial agreement. He will work with your fiance’s attorney (you both have to have one!) to create a plan that will benefit you both. We are passionate about helping couples protect themselves by coming together in this way. If you’re ready to get started, give Irwin a call today at (615) 321-5659.