Why Get A Prenup

December 14, 2011
by Keith Reinber

Partners who enter into a marriage honestly believe that their union withstand all sorts of problems. Even if there are challenges, they can face it together. They believe that love, still is, more important than pride. Although most marriages really do end up happily, still a significant percentage end up in divorce. According to statistics, roughly 2 out of 5 marriages or civil unions end up in divorce.

And most couples go through very tough times during divorce. They would fight over the custody of the children. The properties that couples usually fight over are the house, the business, the savings deposit, and the cars.

The person who has gotten the most money from divorce is probably the former wife of Michael Jordan. Michael Jordan earns millions a year in his basketball profession and in his product promotions. If they had only entered into a prenuptial agreement before they got married, things would have never gone that far and his wife might not have gotten as much as she did.

But the big question is, why do some people decide not to enter into prenuptial agreements right before marriage. Most couples answer that it is because of love and trust. They are probably right. But if you will be smart and realistic, you would also find ways to protect you life\’s savings before getting into a marriage. You cannot ignore the fact that some women marry only for money.

A prenuptial agreement is an agreement freely entered into by partners in order to achieve a fair division of the assets of the spouses upon the dissolution of their marriage. The contract lays down how the properties are to be divided. This agreement also protects and preserves the personal assets that each of the couples had before they got married. If both parties agree to a divorce, the process will be much easier. The court will just grant an order called a decree de nisi. No further hearing is required. Six weeks after the court grants a decree de nisi, the partner who applied for the divorce will again apply for a final decree of divorce which is called a decree absolute. This is the final confirmation of the divorce.

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