Getting engaged and planning a wedding is an exciting time for many New Hampshire couples. During this time of excitement, it may seem counterintuitive to plan for what will happen in case the marriage ends prematurely, but it can be a smart move. Through a prenuptial agreement, couples of any age can protect their interests.
You may associate the need for a prenuptial agreement with those who have significant wealth or have valuable assets, but that is not always the case. For young couples, older couples and couples of all ages in between, these agreements can provide security and peace of mind. Before you say I do, you may want to consider how this type of agreement can benefit you.
The benefits for younger couples
Many millennial couples are now choosing to draft prenuptial agreements, even if they are not high-income earners or wealthy. These agreements allow them to decide what will happen in case of a divorce, not an impersonal family law court. Some of the things a couple may address in their agreement may include:
- Protection of personal investments
- Division of student loan debt
- Pet custody
- Custody of frozen eggs or embryos
These are just a few examples of specific issues that some couples may want to include in their agreement. Of course, basic issues included in prenuptial agreements include vision of marital property, debt accumulated during the marriage and more.
Considerations for older couples
The same principles that motivate younger couples to draft these agreements can also motivate older couples as well. One of the primary ways to protect financial interests and investments is to outline how property division will work in a divorce. Older couples are more likely to bring their own money and concerns to a marriage, and it can be healthy to discuss these things beforehand.
Benefits for people of all ages
While prenuptial agreements are becoming more popular for couples of all ages, it may be beneficial for any couple to consider this step before heading to the alter. This is true regardless of your income, age, wealth, previous marriages and more.
As you plan for your future with your fiancée, do not forget to plan for contingencies as well. A complete assessment of your finances, career path and other factors can help you decide what legal protections you may need. When it is your financial interests at stake, you will find it beneficial to seek guidance as you make these important decisions.