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Pros and Cons of a Prenuptial Agreement

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Marriage is a big step. It comes with a lot of changes, both good and bad. One of the most significant changes is combining your finances. This can be a scary proposition for some couples. What happens if we get divorced? Who gets what?

A prenuptial agreement can help answer these questions and give both parties peace of mind going into the marriage. But prenuptial agreements are not suitable for everyone. Here are some pros and cons to consider before you decide if a prenup is right for you.

What is a Prenup?

A prenuptial agreement, also called a "prenup," is a contract you and your future spouse sign before you get married. The purpose of a prenup is to protect each person's finances and property in the event of a divorce.

The Benefits of Prenuptial Agreements

There are several pros to having a prenuptial agreement, including:

  • Protection of Assets: If you have significant assets going into the marriage, a prenup can help protect those assets in case of divorce.
  • Clarity on Financial Matters: A prenup can help clarify financial matters, such as how property will be divided in divorce or death.
  • Reduced Stress/Peace of Mind: Having a prenup in place can reduce stress and anxiety around financial matters and allow you to focus on other aspects of your marriage.

The Cons to Prenups

On the other hand, while prenuptial agreements serve to protect spouses financially in the event of a divorce, there are some drawbacks to consider as well, such as:

  • One-Sided Prenups: Prenuptial agreements can be unfair to one spouse, favoring the other more.
  • Marriage Feels Set Up For Failure: No marriage ever begins with the expectation that it will end. Hence, couples choose to forgo prenuptial agreements as they believe it puts an end date on their relationship.
  • Sense of Distrust in Relationship: Sometimes, one soon-to-be spouse may be in favor of a prenuptial agreement while the other may not. This can create a sense of distrust as one may feel like the other is already thinking about "what-if" scenarios regarding the marriage's end.

Is a Prenup Right for You?

Now that you understand a bit more about prenuptial agreements, you can begin to determine whether or not one is right for you. Ultimately, the decision is up to you and your partner. We recommend discussing your options and deciding what is best for your relationship. If you are still unsure, an experienced family law attorney can provide guidance!

Divorce Attorneys in Jacksonville, FL

Owenby Law, P.A. can help you navigate the prenuptial agreement process so that you can feel confident and secure going into your marriage. We will work with you to understand your unique financial situation and create an agreement that meets your needs.

If you are seeking a divorce, call us today at (904) 770-3141 for a free and confidential consultation!