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Why a prenup can stop you from worrying about divorce

On Behalf of | Sep 7, 2022 | Divorce

Few people marry with the thought of divorce in the back of their minds – but it happens. Divorce can be a scary time for someone. It could feel like they’re losing everything they’ve worked up to in life. 

While the dread of divorce can cause someone to feel lost, divorce doesn’t mean it’s the end of the world. Here’s what you should know:

What will happen to all your assets in a divorce?

You won’t necessarily lose all your assets after divorce, especially if you signed a prenuptial agreement (prenup) before marriage. A prenup is a document that establishes what assets are divided between two people if there’s ever a divorce. This could mean that many of the assets that you cherish will be protected during asset division in the divorce process.

Your prenup may cover both your and your spouse’s current assets, assets accumulated during the marriage, the responsibility of debt built before and during marriage and other basics if a marriage dissolves. 

A prenup may even discuss alimony. Alimony may be supplied from a high-income spouse to a low-income or no-income spouse to support them after divorce. This may be beneficial for people who have adjusted to a certain standard in their married life or have to care for the couple’s children. 

What if you feel a prenup was not in your favor? 

Prenups are made with the intent of making asset division and responsibilities clear. Prenuptial agreements are a complicated area and the court will enforce an unfair prenup if it was entered into with full disclosure and independent legal advice.

Determining if a prenup is in your best interest requires legal knowledge – you may need to consider reaching out for legal assistance when discussing your prenup.

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