Understanding what is a prenup is an important matter for every engaged couple. The prenup is an essential instrument that can make the marriage peaceful. Also, in case of a divorce, the written agreement can be used to make sure that the process is going to be smooth and quick. For those who are unfamiliar with the term prenup, the full explanation can be read down below.
What is a Prenup? Here is the Answer
Let us begin by understanding what is a prenup. Basically, the term explains a sort of legal document that a soon-to-be-married couple sign prior to their wedding day. It is such a great way to ensure that the couple is on the same page about their upcoming marriage. Here is the full explanation about it for you to read and understand.
First, let’s talk about the definition of a prenup. The answer to what is a prenuptial is basically a kind of written document containing an agreement between the husband and the wife. The agreement is mostly about the division of the asset. Sometimes, it is also about child custody and other miscellaneous stuff. This kind of agreement is seen as mandatory in many states. However, there is no law yet enforcing soon-to-be-married couple to sign one.
Moreover, why the engaged couple should consider signing a prenup? After understanding what is a prenup, you need to understand the reason to have one as well. The main reason why an engaged couple needs to consider having a premarital agreement is that the agreement is going to be a legal document discussing your assets and wealth. The document is going to be the base if the division of wealth and assets should happen. In another word, signing a prenup is going to clear everything in the term of wealth during the marriage and in the case of divorce.
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The Benefits of Signing Prenup
A great marriage should be a well-planned one. A prenup is basically the part of the marriage plan. There is no doubt that signing up a prenup will bring many benefits. After you understand what is a prenup, now it is time for you to get to know the benefits of signing up the premarital agreement. The full explanation about the benefits is listed down below.
Reach a Settlement Agreement Easier
Figuring out what’s a prenup is followed by figuring out its main benefit. The main benefit of the agreement is to reach a settlement easier in case of divorce. There are tons of things to settle down in a divorce. Aside from the wealth division, small things like child custody, visitations, usage of family names, and so on should be well-discussed in a divorce. When everything is settled before the marriage begins, divorce should be quick and easy.
Avoid Bitter Divorce
Division of wealth, assets, and property is the main reason why a divorce can be so rough and take a long time to complete. To avoid that matter and make sure that in case of divorce you do not have to experience a bitter one, you need a prenuptial agreement. When everything is settled way before, even when the marriage begins, both parties should understand and accept the division, without the need of making things worse. This is why understanding what is a prenup and sign one before getting married is so important.
Boost the Value of Your Estate
Finding out the answer to what is a prenuptial agreement is going to tempt you to have one and make you feel this particular benefit. This benefit is about the value of your estate. The estate you own will have better value at the market when it is mentioned in the prenup. Why so? It is because the legal status of estate is 100% clear, and there will be no way that the estate is going to be an issue in the future.
Now, you have understood everything about the prenup. If you are currently engaged to your beloved one and planning a wedding soon, you probably need to consider setting up a prenup. The premarital agreement is quite useful to make sure you have a happy marriage full of positive vibes. This is why understanding what is a prenup is so important even before the nuptial begins.