Don t Sign That Prenuptial Agreement Until You Read This!
When the subject of marriage comes up, many people want to make sure they have things covered and taken care of. Many of us are realists and our first thoughts are protecting ourselves. Of course, we can't protect ourselves from heartbreak, but we can prevent many other things from happening. On the other hand, some individuals feel that if you truly love someone, you need to give 100%. This article discusses the pros and cons of prenuptial agreements.
Benefits of Prenuptial Agreements
One of the major reasons people sign prenuptial agreements is to protect themselves from being 'taken to the cleaners.' A prenuptial agreement basically states that both couples retain the items, money and belongings they brought into the marriage and that neither will try to seek any sort of belongings or money that rightfully belongs to the other. This would include any revenues that come from the separate property or anything associated with it.
The major reason for this is to keep from having to give up a lot of personal property in the divorce. We've all heard how husbands or wives have 'taken each other for everything they have' in the event of a divorce and a prenuptial agreement is supposed to stop that from happening. So the major advantage of having a prenuptial agreement with your spouse is that you will protect your personal belongings and money.
Another advantage is if you plan on having children with your spouse and you want to retain a large portion of your personal wealth to pass on to your children without interference or division of any kind. A prenuptial agreement allows you to keep everything that is yours and do as you wish with it. So, if you want your children to have it - you don't have to worry about bitter or angry spouses trying to take it.
Disadvantages of Prenuptial Agreements
With the good comes the bad, even with prenuptial agreements. While they are great for personal protection, not much could be said for how they start off a marriage. Marriage is supposed to be about trust, love and a commitment to spend the rest of your life with someone. A prenuptial agreement can often seem like you're sending out mixed signals. Your spouse may think, "If I am really loved, then why does he or she want to cut me out of their monetary part of life?" It can really seem like you're saying - 'I love you very much and I do want to share the rest of my life with you, however - I don't want to give you a single penny that belongs to me. So, no matter what we share through life, you're not getting any of my money."
While that may be a little extreme, the truth is that some people think this way. It can really hurt your partner's feelings if they think you're feeling this way.
While there are pros and cons to prenuptial agreements, much like everything else, you need to determine what's better for your own situation and the health of your relationship. By using the tips and tricks in this article, you can determine whether or not to use a prenuptial agreement for your own marriage.
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Source: http://ezinearticles.com/
Added: September 6, 2008
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