Marriage is meant to be a lifetime commitment. However, divorces do happen since no one can really predict their significant other’s or their own actions in the upcoming months, years and decades following their wedding. This is precisely why more people are considering the merits of prenuptial agreements.
Consider a Prenuptial Agreement if There is Financial Debt
Most couples don’t want to discuss school loans, credit card debt and a potential mortgage as this subject matter is inherently depressing. However, there is an undeniable imbalance between one soon-to-be spouse who has a considerable debt load and another who has minimal debt or no debt at all. An individual who is debt-free or has a small amount of debt should have a prenuptial agreement in place detailing each party’s financial obligations and how that debt will be divided in the event of a divorce.