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Protect yourself with a prenuptial agreement

On Behalf of | May 11, 2023 | Family Law, High-Asset Divorce

It can make some couples in West Virginia uncomfortable to discuss a prenuptial agreement. However, having meaningful financial discussions with the person you plan to spend the rest of your life with can prevent problems and strengthen your relationship. Here are a few reasons why a prenuptial agreement can be helpful.

Protect your business

If you are a business owner, you have put a lot of money, hard work and time into it. In case of a divorce, a prenup will ensure that you keep your business as separate property. If you have partners or investors in your business, they may require that you get a prenup.

Keep an inheritance safe

A high asset divorce can negatively affect your finances for years. If you receive a large inheritance, getting a prenuptial agreement will protect it. If you want to leave an inheritance behind for your children, a prenuptial agreement will protect them.

Consider your retirement

Retirement saving has likely been a priority for you for many years. By getting a prenuptial agreement, you protect your retirement benefits. Additionally, you make it possible to still retire on time even if you go through a divorce in the future.

Divorce rates are high

The unfortunate truth is that around 50% of marriages will end in divorce. While you may not end up being in this statistic, it is beneficial to protect yourself. A prenuptial agreement can help you avoid financially complicated situations.

It may feel unromantic to talk about prenuptial agreements. However, life is unpredictable. Ensuring that your hard-earned assets, such as your business and other possessions, are considered separate property in the event of a divorce is a great way to protect yourself.