Planning a wedding is an exciting time, but it is important for Oklahoma couples to focus on their long-term futures, not just one day out of their lives. From financial planning to saving for a home, there are many ways that you can keep an eye on a strong future beyond the wedding day. One of the other ways that you can do this is by drafting a prenuptial agreement.
You may be hesitant to think that you could benefit from a prenuptial agreement, but in reality, it can be both smart and practical for couples of all income levels and assets. Contrary to what many people believe about it, a prenuptial agreement is not planning for a marriage to fail; rather, it is a way to ensure the protection of the interests of both parties.
Who needs a prenuptial agreement?
People commonly assume that a prenuptial agreement is only for the extremely wealthy, business owners or those with valuable property. While couples in which one or both parties have valuable assets certainly benefit from the protections provided by a strong prenuptial agreement, it is not only for the rich and famous. In your prenuptial agreement, you may include provisions that address the following in case of a future divorce:
- Division of marital property
- Distribution of marital debt
- Division of real estate and vehicles
- Business-related assets
- Retirement and long-term savings
- Potential future inheritances
Essentially, drafting a prenuptial agreement offers you a measure of protection in case the marriage ends at some point in the future. It is not planning on the marriage to fail, it is simply having a contingency plan in place. This small effort before the wedding may seem unnecessary, but it could save you time, money and stress in the future. You would be wise not to get married until you consider the benefits of a strong prenup.
Protecting your interests by taking action today
There is no way to predict the future, but it can be incredibly wise to have a plan in place to protect your interests and shield you from some of the difficulty of the divorce process. In fact, the discussions needed to draft a prenuptial agreement may actually foster a stronger understanding between two individuals about to marry.
It is prudent to consider the benefits of a prenuptial agreement before you wed. With a few simple steps, you can look forward to the years ahead with confidence.