Let’s be real – no one wants to talk about prenups. In the past, these used to be looked at with serious scrutiny, as signing a prenup was tantamount to declaring that you expected your marriage to end in divorce. While these agreements are more common and accepted these days as a way to protect one’s assets just in case, prenups are still a touchy subject to bring up when preparing to get married.
Getting a prenup may or may not be right for your life, and the decision is personal to every couple – however, here are some situations where Cash Money Life thinks that getting a prenup is almost a necessity:
- Business: it could be wise to protect your business with a prenup if you own a business or are planning on starting one. If you don’t sign a prenup, your spouse could be entitled to a portion of the value of your business (especially the value of appreciation during the marriage) if anything were to go wrong.
- Real Estate Assets:
If you have real estate assets prior to the marriage, a prenup can help you protect their appreciating value. Even if you never put the assets in your spouse’s name, the sale of the real estate to help fund divorce costs might mean that part of your gains can be claimed by your ex.
- Higher Income: a person with a much higher income than their partner might want to consider a prenup if they don’t want to be expected to split everything made during the marriage down the middle.
- Higher Net Worth: you might want to protect a windfall, an inheritance or some other large amount of money that makes your net worth high with a prenup.
What are your thoughts on getting a prenup? When is it worth signing one? Please share your thoughts with us in the comments section below!
Find more advice over at Cash Money Life’s Should You Get a Prenup Agreement?.