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Important uses for a prenup

Many Pennsylvania residents might think that a prenuptial agreement is only useful for couples who are very wealthy such as celebrities or politicians. However, that is far from the case today as these marital contracts offer even the everyday or middle class couple many benefits. Understanding what a prenup can do is important for any serious dating couple.

As Time magazine explains, one of the big benefits a prenup may offer is not at all about getting divorced but about helping a married couple communicate about one of the most-fought over topics of all: money. When determining the details of a prenuptial agreement, partners will need to discuss frankly not only their assets or debts but they can also outline how they will handle money together once married. This may include what assets will be kept separately and what will be comingled as well as who will pay the bills.

Regarding a potential divorce, if that ends up transpiring, a prenup gives the couple the chance for them to be in control of the outcome rather than relying on state laws, a judge's decision and difficult negotiations during a highly emotional time for them.

According to Bankrate, marital contracts may be of particular benefit to couples getting remarried as they may use these contracts to provide for their children from prior marriages. Any prenup should be entered into well in advance of a wedding date and only after both parties have openly and fully disclosed all of their financial interests or liabilities.

 

 

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