Aren’t Prenups Only for the Rich? Find Out Why a Prenuptial Agreement May Make Sense, Even if You Aren’t One of the “1%”
Does a person need to be extremely wealthy for a prenuptial agreement to make sense? Many Chicago couples and fiancées that are headed down the aisle may wonder this exact question, as they weigh whether they themselves should ask their soon-to-be spouse whether such an agreement is a good idea for them. Indeed, when a person does not have multiple properties, huge bank account balances, a garage full of cars, and a profitable shared business, does it really make sense to ask for a prenup? To help Chicago couples and individuals better understand the importance of prenuptial agreements, and why they are for everyone (rich or poor), we answer that question here.
Prenups are For Everyone in Chicago
At the outset, it bears repeating: prenuptial agreements are not just for the mega-wealthy, and can, in fact, benefit virtually any Chicago couple headed down the aisle, whether wealthy or not. Prenuptial agreements are agreements that detail how the parties will deal with certain important issues in the event that the marriage goes south, such as who will get the house, cars, and other property of the marriage, pet custody, co-parenting decisions, and other important issues that come up in a Chicago divorce. When it comes to those who are not particularly mega-wealthy, but still are considering a prenuptial agreement, a prenuptial agreement still may make a lot of sense. Prenuptial agreements can clarify the rights and responsibilities of each party if the marriage ends, provides debt protection in the event that one party has amassed debts in the marriage, and can, altogether avoid the cost and expense of an all-out, lengthy battle in court in the event that the couple decides to divorce. Here are some other reasons that a prenuptial agreement may make sense, even if you are not one of the uber-wealthy:
- Prenuptial agreements can address future assets – such as inheritances;
- Prenuptial agreements can plan for alimony or spousal maintenance payments (or the absence of such in case the couple gets divorced);
- Prenuptial agreements can protect a person’s ownership over their own business or property;
- Prenuptial agreements can foster open communication and honesty about what expectations each person has in the event of a divorce.
Of course, there are a number of other benefits to implementing a prenuptial agreement in Chicago before your marriage. In order to determine whether a prenuptial agreement makes sense in your particular case, it is always best to speak with an experienced Chicago pre-postnuptial agreement lawyer as soon as possible about your unique situation.
The experienced Chicago pre-postnuptial agreement lawyers at the law firm Arnoux Sharma & Standeford, LLC are here to help individuals in Chicago with their prenuptial agreement matters. They will listen to the details of your case to see if they can help represent you in crafting your prenuptial agreement. Do not hesitate to speak with an experienced Chicago pre-postnuptial agreement lawyer today. Contact Arnoux Sharma & Standeford, LLC now.
