When a man gets engaged, chances are that talking about the division of assets in the event of a divorce is the last thing he wants to do. However, as more people enter into marriage with substantial debt and significant assets, everyone could benefit from the protection a prenuptial agreement provides. Below are a few reasons to get a prenup.
Agreements Help Prevent Disagreements
Knowing how asset division will be handled in a divorce will provide peace of mind, which is conducive to a long, healthy marriage. If the need for a Tulsa divorce attorney for men arises, a prenuptial agreement will benefit a man emotionally and financially by minimizing legal fees and helping him remain calm.
Protecting Separate Property
Is the man entering a marriage with substantial assets, or does he expect an inheritance? Is he a business owner who expects continued profits? During a marriage, certain behaviors and actions may blur the line between separate and marital assets. However, a prenuptial agreement will keep those lines sharp.
Setting the Tone for Financial Transparency
Money is one of the biggest points of contention during a marriage, and financial conflicts are one of the main reasons for divorce. Being honest and open from the beginning sets a precedent of financial transparency and trust. The more comfortable a couple is in dealing with financial issues, the less likely they are to divorce over money.
Overriding State Law
Asset division procedures vary by state. For instance, some states follow the equitable distribution rule, meaning that the courts divide assets fairly, but not necessarily equally. Prenuptial agreements override state laws, regardless of jurisdiction. This means the client, rather than the court, decides how assets are distributed.
Protection From a Spouse’s Debt
Many people go into marriage with credit card or student loan debt. If there’s no prenuptial agreement in place, a man may be held responsible for part of his spouse’s debt in the event of a divorce. With an agreement, he’s protected from such a financial burden.
If a man is preparing for marriage, he should find out how a prenuptial agreement will help protect his future. The firm’s highly experienced attorneys will work with clients to answer all their questions. Visit the website to learn more or call today to schedule a consultation.