Gossip columns about ugly celebrity splits have likely appeared on your news feed. When dealing with the lifestyles of the rich and famous, prenups seem like a no-brainer. Superstar marriages never seem to last, so these millionaires need to protect their wealth. But for the average person, prenups seem cold and pessimistic.
No matter how much money you have, you should take steps to protect your lifestyle. Here are four reasons why everyone should have a prenuptial agreement.
1. Many relationships end in divorce
Recent numbers reported by the Illinois Department of Public Health show that in 2017, over 24,000 divorces occurred in the state. Regardless of your intentions, there is still a chance things may not work out as you planned.
2. Prenups protect you from debt
In a traditional divorce, spouses risk incurring each other’s debt. A pre-marriage agreement stating that you will not acquire the other’s debt after separating can protect you from financial ruin.
3. It can speed up a divorce
If a breakup does occur, there is no need to argue over asset distribution. When parties agree to parting terms before the union, it leads to much faster and less contentious proceedings.
4. You could earn more later
You may enter your nuptials with nothing, but you could find financial success after your wedding. If you want to protect future earnings, a prenup is essential.
You do not need to be wealthy to enjoy the benefits of a prenuptial agreement. Prepare for any outcome, and you will go into your marriage confident and ready for your new life adventure.