Undoubtedly, pre-nuptial agreements are considered to be a foreboding omen of bad luck among some couples in Georgia and across the U.S. Specifically, it is often the case where people view these types of agreements as unnecessary, in that they believe they function to treat a marriage like a business contract rather than a sacred and sacrosanct bond between two people. Others view a pre-nuptial agreement as a threat to the trust that two people should have in each other both before and during a marriage. Although a divorce is never the expected outcome, a pre-nuptial agreement can provide a couple with a number of benefits. If you are contemplating entering into a pre-nuptial agreement or have heard a number of myths associated therewith, it is important for you to consider the positive aspects of these types of agreements, such as:
- Certainty. A pre-nuptial agreement is an ideal way in which prospective spouses can set out their respective expectations regarding their finances, assets and other aspects, resulting in the parties knowing exactly what to expect in the event of a death or divorce.
- Preservation of property. Parties to a pre-nuptial agreement are able to preserve the status of the property and financial assets that they bring to the marriage as "separate". This may be highly beneficial should the parties decide to divorce.
- Debt protection. If one spouse comes to the marriage with debt, a pre-nuptial agreement can protect the other spouse from being forced to satisfy his or her debts that were incurred prior to the marriage.
- Protects a family business. A family business is extremely important to protect, especially in light of the income it generates and the property it owns. Pre-nuptial agreements are a great way in which to preserve the status of the business as one belonging to the family.
- Reduces conflict during a divorce. By entering into a pre-nuptial agreement, it provides a couple with guidelines over "who gets what" in a divorce. As such, there is less to argue and debate about during the pendency of their divorce.
- Protects family members. Oftentimes, pre-nuptial agreements protect the interests of children from a prior marriage. This way, a spouse can protect his or her children and/or family members who would otherwise lose out to marital property in the event of a divorce.
- Reduces the expenses associated with a divorce. Since over 50% of marriages currently end in divorce, it is definitely worth considering the costs associated with filing such an action. Should each party's respective rights be spelled out in a pre-nuptial agreement, it can effectively reduce conflicts and other problems that can lead to expensive legal bills and other associated expenses.