Although prenuptial agreements are still somewhat controversial, they're starting to catch on as a practical legal agreement to sign prior to marriage. Postnuptial agreements, on the other hand, are even more controversial. Many couples have never heard of the possibility. However, if your marriage is currently on the rocks, entering into a postnup could be the best way to save your relationship.
New York spouses, who are planning to tie the knot by getting married, may also want to set up a prenuptial agreement before they say "I do." However, deciding whether a prenuptial agreement is right for you could involve a considerable amount of thought. To assist you in your decision-making process, consider asking yourself the following questions.
The benefits of having a prenuptial agreement on file are clear. Regardless your financial situation, a prenuptial agreement will make divorce -- if it becomes necessary in your case -- far easier, faster, cheaper and less stressful. However, what can already-married couples do now to receive these same benefits if they don't have a prenup on file?
Many who marry young and have little to no assets to their name would never think twice about drafting a prenup before marrying. For one, they believe that their love story is meant to last. And second, they feel as if they have nothing now, so what do they have to protect from their soon-to-be spouse's grasp? Relationship experts argue couples have more to lose from not signing a prenup than they might think.
Asking your future spouse to sign a prenuptial agreement right before you're set to walk down the aisle can cause conflict at what's supposed to be an optimistic time. While the thought of asking your significant other to sign either a prenup or postnup might make you cringe, if it has to be done, there are pros and cons to pursuing both.
A recently published report shows that more and more millennials are asking their significant others to sign prenuptial agreements to protect their intellectual assets before they walk down the aisle. If we think of a marriage as some type of contract in itself, this growing trend shouldn't come as a shock to most.
When two people are planning to get married, the last thing they probably want to think about is divorce. However, ignoring the possibility of divorce can be a costly mistake if you or your partner is bringing significant assets into a marriage.