If you are engaged to be married, congratulations! Marriage can be a wonderful way to formalize a committed relationship. However, marriage is not without financial risk. One way married individuals can mitigate the financial risks associated with marriage and protect their financial future is by creating a prenuptial agreement.
Prenuptial agreements are becoming more and more popular, especially among millennials. In a study conducted by the American Academy of Matrimonial Lawyers, over 60 percent of the lawyers surveyed noticed an increased number of engaged couples seeking prenups. The increase is not surprising given the significant benefits associated with prenuptial agreements for both spouses in a marriage.
Top Benefits of Utilizing a Prenuptial Agreement
Prenuptial agreements, or prenups, are often misunderstood. These legal tools are not only useful for extremely wealthy couples. They provide benefits for married individuals of all ages, lifestyles, and income levels. Prenuptial agreements can provide benefits including:
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