Do You Need a Prenup in 2023?

Why You Should Have a Prenup

What is the meaning of a Prenup?

and what is Prenup short for? A prenuptial agreement (“prenup”) is a contract made by two people prior to getting married. It shows the rights and duties of the two sides when it comes to finance, property, and other assets. Even though not a legal necessity in most states, a lot of couples today are opting to make a prenup of.

Divorce Statistics

In the US of today, a marriage, on the average, lasts for 8 Years, a couple gets married every 16 seconds and a couple gets divorced every 42 seconds. Now that armed with these data, do you feel that you stand a good chance? Just 5% of couples these days are married with a prenup. So it is quite clear that most people are used to overplaying the odds. Earlier, the prevailing idea for the success rate of marriage in the US was 50%, but now it is 59%. 41% of the first marriages are breaking up in this case. Given this detailed information, the point of the matter is why people are considering it nowadays.

A Prenup Can Keep Your Assets Safe

A prenuptial agreement is a tool that you can use in order to keep your assets from being divided equitably if you ever get a divorce. The legal concept of ‘equity’ in marriage signifies that both partners should receive half of the property gotten during the married life. This is for the most part, without the situation of gifts or inheritances, which were bought before the marriage. So, in case there is no prenup, such assets are liable for a just distribution given that they were.

A Prenup Can Also Protect You Financially

A prenuptial agreement can also secure the financial integrity of the couple in case one or both of the spouses lost their jobs during the marriage. In a prenup, the couple can agree on the amount of spousal and child support payments in the case of unemployment. The prenuptial arrangement can also enumerate all the financial targets that the partners have to meet during the marriage, such as elimination of student loans or the start of a pension fund.

Probably the most important aspect of a prenup is that it protects both partners from the other’s debts that might come up in case of a future separation. The couple may decide that the debts they acquire in marriage shall reverberate as solely their responsibility and not be the other’s concern, thus entirely dividing the responsibility and preventing the other partner from being held responsible for the other’s debts in the event of a divorce.

Benefits of a Prenup

Through the use of a prenuptial agreement, offspring can be secured from committing any impetuous actions when it comes to property distribution and be given a sense of peace regarding their parents’ contract. If such an unfortunate incident like divorce occurs, both parties are in a better position to know how their assets and liabilities will be shared. What is more, a prenuptial agreement helps you to decide the fate by yourself rather than by the court in case a divorce happens.

Harvesting up the fruit of a company and not being anxious about common property while the other half loses his or her life will be a relief to a spouse who has prepared the prenuptial agreement. This way the immobilization of the property may be kept away from the debtors and might serve as a guarantee if one partner dies or is not in a position to act on his or her own.

Additionally, the presence of a prenuptial agreement can lighten the burden of the divorce process. Having the contract in place at the time of divorce greatly cuts the time and money needed to bring the divorce to an end, thus providing you with a quicker and painless experience.

Is Prenup a Need to Be Notarized?

Although it is not obligatory in all the states, it is certainly advisable. A prenuptial agreement that has been notarized is more likely to be legally binding. You can also obtain a video of the session through the online notarial process.

“At the time of divorce, a court can declare the agreement invalid if it finds, inter alia, that there was fraud, duress, coercion, mistake, undue influence, or the terms or circumstances of the prenuptial were unconscionable.

JNGLaw.net
One of the shocking prenup statistics is that prenuptial agreements can actually hold up in court a little less than 50% of the time a little more than 50% of the time, so better be very careful when you draft your prenup if ever. That way, the probability of a judge disrespecting your prenup in the years ahead will be minimized.

This recorded video of your session may also bring a clearer situation or case for you. This video can be used as evidence in court, showing that the prenuptial agreement was voluntarily made, without pressure, or any influence. Online notarization is also quicker due to the fact you can get this done without having to leave your house or without having to disrupt your schedule at all.

Get your Prenup notarized online in under a quarter of an hour.

Do You Really Need a Prenup in 2023?

Without a doubt. As a result of changes in the economy and the dynamism of marriage laws, you need a prenup more than ever to protect both your financial assets and yourself during the marriage. A prenuptial agreement can be the device of this, explaining the way assets and debts should be distributed in the events of divorce or death.

This can be a move that is made in anticipation of the s.Inceation of an unforeseen event such as a breakup. With a prenup, you and your partner can set down the financial do’s and don’ts of the marriage and even see that any debts or assets are parted out equitably in the case the marriage doesn’t work out. This also helps in avoiding long and wearisome procedures in court, saving both the time and the money.

Finally, a prenup is not just an option that should be on the bucket list of every couple but one that partners should take the time to think about. Such an important move is a guarantee that both parties are protected respectively from any financial crises and that they can still enjoy the benefits even if the relationship fails. If the married life has reached a certain point, spouses can still alter some parts of their prenuptial agreement by keeping it updated with the changing finances. To this end, proposing a prenuptial contract to your partner when feeling marriage might be a good idea, is a wise decision.