Before You Say ‘I Do’, Think About a Prenuptial Agreement

Prenuptial Agreement

A recent study showed that brides and grooms-to-be who have cold feet before their wedding could very well foreshadow an unhappy marriage that could even end in divorce.

Brides and grooms-to-be who have cold feet should really consider entering into a prenuptial agreement with their future spouse. This agreement can protect both spouses-to-be in the event that the marriage does not work out and end in a divorce.

Contrary to popular belief, a prenuptial agreement does not protect just one spouse; it protects both spouses. It must be fair and reasonable for both parties. It can be a very specific agreement dealing with all aspects that may be covered in a potential divorce, including distribution of property and assets, alimony, child support, and child custody. Or, the agreement can be narrow, and just address one or two issues, like protecting a specific property owned by one spouse-to-be.

A prenuptial agreement also requires both spouses-to-be to make a full and accurate disclosure of their assets and liabilities. This way neither spouse enters the marriage with any financial secrets.

A prenuptial agreement can be a good idea to protect spouses who are concerned about any potential risk of divorce in the future.

Source: www.theglobeandmail.com , “Wedding day cold fee? Divorce may be in the cards” Wency Leungr, Nov. 8, 2012.

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