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Why you should consider a Prenuptial agreement

Contrary to what some Nigerians believe, a prenuptial agreement is not taboo, and considering one doesn’t bring the d ...

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Why you should consider a Prenuptial agreement

Contrary to what some Nigerians believe, a prenuptial agreement is not taboo, and considering one doesn’t bring the devil to destroy your marriage. Some spouses choose to have a prenuptial agreement,  while others don’t, and it’s okay,  but the reasons behind not choosing to have one should be justifiable and not linked to speaking failure into your marriage by thinking about it.

A prenuptial agreement is simply a written contract between two people who are about to get married. This contract usually contains; terms of possession of assets, control over properties, and how these properties would be divided if the need arises in the future. A lot of people believe that a prenuptial agreement is only used when a couple is planning a divorce. On the contrary, a prenuptial agreement is also very essential for when one’s spouse dies.  Here are 4 reasons why we believe you should consider getting a prenuptial agreement.

  1. Assigns debts

We have seen cases where, after a divorce, one spouse is made to share a debt liability the other spouse is not aware of. With a well-prepared prenuptial agreement, this can never be the case. Both parties must have had a prior conversation, accepting responsibilities for their debts both in the present or future and saving the other partner from inheriting a debt he/she knows nothing about.

  1. Protects pre-marital assets

A prenuptial agreement allows both parties to be open about their financials before getting married. A couple can decide to join their assets to build a business or decide to jointly acquire an asset. If unfortunately, the union does not last, a prenuptial agreement protects the asset and allows the couple to split their assets according to a percentage they must have agreed on whilst preparing the prenuptial agreement and allows you to keep an asset you had before getting married.

  1. Protects the financial stability of your children

In the case where you had a child before getting married, a prenuptial agreement allows that child receive his/her share of assets. Also, if one’s partner dies, a prenuptial agreement contains rules and regulations as to how the assets can be divided among his/her children. This is often the case if one partner doesn’t want the other partner to inherit an asset and would prefer to give it to his children

  1. Allows for an easy divorce settlement

A prenuptial agreement helps prevent extended court proceedings during a divorce. Both partners have already agreed on how properties would be divided among themselves and who gets what. The court would only do its job by making the divorce easier without too much dilly-dallying.

A prenuptial agreement is a contract no one wants but is ironically, very important; No one wants to foresee a marriage that would end or a spouse that would die sooner than expected. No one would like to bring up a prenuptial agreement with their spouse for fear of seeming selfish and no one can predict issues they might have in the long run. Life generally is full of uncertainties, but to be safe, why not get a prenuptial agreement, who knows, you might never get to use it.

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