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What are the pros and cons of a prenuptial agreement?

Asking a Gulfport couple to think about a prenuptial agreement may seem like asking them to think about their eventual divorce, and thus prenuptial agreements are not usually thought of as a romantic topic of conversation. On the other hand, many couples know that they could benefit from a prenuptial agreement. So, what are the pros and cons of a prenuptial agreement?

First, there are advantages to a prenuptial agreement. Very often, one spouse may enter a marriage with a lot of debt, whether it be from student loans, medical bills, business loans or another source. A prenup can prevent the other spouse from having to take on some of this debt in case of a divorce. A prenup can also help to preserve one spouse's wealth so they can pass it on to their descendants and other worthy beneficiaries. As for a spouse who gives up a lucrative career to enter a marriage, that person could be compensated with a prenup if the marriage doesn't last.

There also are disadvantages. First, going into a marriage with a prenuptial contract may foster a sense of mistrust. Also, a prenuptial agreement may not take into account the increase in value of a shared business, an increase that would normally result in each divorcing spouse's taking part of the business's value in property division. Finally, many idealistic spouses don't plan for a marriage to end in divorce, so they pay less attention than they should to the terms of the prenuptial agreement they sign. There are many more pros and cons to prenuptial agreements.

Post Type: Q&A

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