Getting married is a whole new adventure. You begin to share a life with another person. This journey is full of ups and downs. Though no couple ever thinks about divorce when they are getting married, it is always best to be prepared if things go that far. Having a prenup can enable you to protect your assets which you do not want to be divided. Musson Law will help you to draw a prenup agreement that is reasonable and will be fair. They will assist you in the process and guide you to include clauses that can be helpful in case of a divorce. Having a Prenuptial agreement in place can make the divorce process simpler than anticipated. If you are still on the edge of whether you should opt for a prenup agreement or not, here are some reasons why you should.
What happens when you don’t have a prenup?
To understand why you should have a prenup agreement, you need to have an idea about what can happen when you don’t have one. When the divorcing couple doesn’t have a Prenup then the assets are divided as per the laws. One would assume that these laws would ensure equal division of property. This is not what always happens. Often the division of assets can be grossly unfair. When you have a Prenup agreement, you don’t have to worry about these things.
Protecting your Assets
One of the main aims behind getting a Prenup is protecting the assets that you don’t wish to divide. Homes, investment accounts, bank accounts, RRSPs, pensions, stocks, stock options, cryptocurrency and other business interests are some of the assets that the prenup can help you to protect. If there is any family inheritance you wish to protect, you can include it in the Prenup. The agreement not only helps to protect your assets but also debts. If you or your partner has significant debts, it can help to ensure that equalization of debt doesn’t happen. It is also crucial to note that a reasonable Prenup will not include a provision that kicks the spouse out of the marital home. This is because married people have equal rights over that hoe irrespective of who is on the title.
You can have it written in the agreement whether you would want to pay Spousal support or not. If you plan to, then how much would the amount be. It is essential to note that only clauses related to spousal support should be included. At no point should it be confused with child support. No clauses should be included about parenting in the Prenup. Child support can’t be negotiated. It is to be dictated by the law. However, if you wish you can leave some assets to children from previous relationships in case of death. This will serve to protect the rights and interests of your other children. The lawyer will help you to draw up fair provisions.