5 reasons for writing a prenuptial agreement

5 reasons for writing a prenuptial agreement

June 15, 2018

Whilst some people believe it might be a little unromantic to write a prenuptial agreement, with one third of marriages ending in divorce it seems prudent to be prepared.

Whilst it might seem a little foreboding to consider a prenuptial agreement, when you look at the facts it can make really good sense for all parties involved.

  1. A prenuptual agreement, or a prenup as its more commonly known involves both parties coming to an arrangement about how their finances and assets will be spilt in the event of a divorce. There’s no better time to do this than when all parties are level-headed, rational and have the upmost respect for one another. Prior to the marriage seems the perfect time to broach the subject of how to divide assets as opposed to when the marriage has broken down and there might be bitterness and resentment.
  2. One partner might earn significantly more than the other or bring a business or a lot of property to the marriage. A prenup will help protect the wealth accumulated prior to the marriage.
  3. One or both partner/s might have children from a previous relationship, and in the event of a divorce they want to protect their wealth, so they can eventually pass it down to their children.
  4. You might be happy to divide all assets, however if you have a family run business the dynamics can soon change if this becomes a 50/50 asset. To protect family assets such as; businesses, property, heirlooms etc… a prenup is essential.
  5. A prenuptial agreement means that the terms of a divorce are already dealt with, so everyone knows where they stand in the event of a divorce and each party can move forward a lot quicker.

For better or for worse, prenups definitely have their place. When you talk to Radich Lawyers, we can assure you that we will deal with your prenuptial agreement in a fair and sensitive manner. Come to our office on the Gold Coast and we will find a solution that both parties can agree to.