You may have heard about Georgia couples fighting over whether to sign a prenuptial agreement before getting married. In many cases, one spouse (typically, the one who has more significant assets) will ask the other spouse to sign a prenup to protect both of them financially if a divorce ever occurs. However, the other spouse may find this to be unromantic and claim that the other spouse should have faith in their marriage and the idea that they will be together until death do them part.
While they may seem unnecessary, prenuptial agreements can save you from long-term financial and emotional distress.
What is covered in a prenup?
A prenup can cover several key issues in your divorce, including matters related to property division and alimony. Once the terms have been agreed upon by both parties, both parties must adhere to those terms if it comes time for a divorce. Without a prenup, it could take an extended amount of time to decided on these key issues.
However, if you have children or are planning to have children, you should know that prenups will not cover child custody or child support. You will have to address those issues at the time of your divorce, either through mediation or through the court system.
Do we have to sign a prenup before we get married?
Generally, a couple signs a prenuptial agreement before saying ‘I do.’ However, couples who do not sign a prenup prior to marriage may sign a postnuptial agreement during the marriage. However, postnups are more highly scrutinized and less flexible than prenups.
Even if you think you will never get a divorce, it is usually in your best interest to sign a prenup. These agreements can protect you and the assets that mean the most to you if you and your partner decide to separate.