If you’re thinking about a prenuptial agreement, you might want to educate yourself, not only on the upsides of signing this kind of document before marriage, but also on the downsides. Ultimately, when it comes to any kind of legal arrangement – including marriage – you should know exactly what you’re agreeing to and what kinds of future ramifications it may have on you and your life.
In terms of the “downsides” of a prenuptial agreement, there are several things you should consider:
- You might have to forfeit your ability to inherit some or all of your spouse’s estate in the event of his or her death. Without a prenup, under state inheritance laws, you may have the right to receive at least part of your spouse’s estate. Your prenup could eliminate this right to inherit.
- During the course of your marriage, you might contribute to the growth and success of your husband’s or wife’s personal or professional business in a nonmonetary way. For example, you could provide ideas, consultations and even entertain his or her clients. Or, you could be the homemaker and take care of the children and home, freeing up your spouse to invest time into his or her business. A prenuptial agreement could erase your ability to receive compensation for these efforts in the event of a divorce.
- In some cases, prenuptial agreements can create barriers of trust between two marital partners.
If you’re considering a prenuptial agreement, be sure to consider the above downsides and any other potential downsides that you and your legal counsel can think of. Ultimately, the more you know about the details of your prenuptial agreement, the better you’ll be able to ensure that the document you’re signing serves the best interests of you and your family.
Source: Findlaw, “The Pros and Cons of Prenuptial Agreements,” accessed March 02, 2018