Why Prenups Aren’t Just for the Super Rich


The first question many people ask when a celebrity couple or wealthy couple decides to wed is, “Will there be a prenup?” and it’s not considered uncommon. However, while many people assume that prenups are just for the rich and famous, it’s not the case. It’s a great way to protect your assets and your financial status even if you are just a regular person without millions in the bank. The very honest truth is that prenups are not just to protect assets in the event of a divorce, they are also designed to help protect the financial well-being of each partner even if that financial well-being includes debt. And while many people are reluctant to consider a prenup on the basis that they feel it does nothing more than suggest they’re going into marriage already thinking about an imminent divorce, it’s always better to be safe than sorry.

The primary reason that a prenup is a solid consideration for those without significant monetary assets is that it can protect you against debt incurred by your spouse throughout the course of your marriage. For example, if you state in a prenuptial agreement that each party will take away from the marriage all debt incurred in their name and half the debt incurred as a result of joint accounts, each spouse is protected against the debts of others. For example, your spouse might negate that he or she is not responsible for assisting you in any student loan payments you incur while in college throughout the marriage, making it a sole responsibility on behalf of one partner rather than a joint debt that was incurred during the marriage as is common practice in many locations.

That said, there are always reasons to consider a prenup even if you are not a wealthy person, and it’s highly encouraged by most financial professionals that you consider this before you get married regardless of your current financial situation.

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