Are prenups only for rich people?

Contrary to popular belief, they aren’t just for super wealthy people; even if your own assets don’t amount to much, prenups are useful. With a prenup, you can specify that debt should remain separate, which would protect your spouse’s income and assets not just in case of divorce, but also during the marriage itself.

How rich do you have to be to get a prenup?

It’s not just a little purchase and so I do think you need to have some assets to justify it. A general rule of thumb is that “if you have a few hundred thousand dollars [in assets], you should at least consider a prenup,” says Holeman.

Who does the prenup benefit?

A prenup can help couples avoid a bitter and lengthy property battle by defining what qualifies as marital property and how you’d like to divide it in the divorce. Some couples believe that a 50/50 split would be best, but for others, an unequal distribution may be more appropriate.

Are prenuptial agreements a good idea?

Prenuptial agreements can help guarantee your business goes untouched if your marriage were to end in divorce. If you are debt-free or have substantially less debt that your intended spouse, it can protect you from inheriting a portion of your spouse’s debt.

Do prenuptial agreements hold up in court?

Are Prenups Enforceable? Prenuptial agreements, if drawn up and executed correctly, are legally binding and are usually upheld in court. One recent, high-profile case, however, has shown that prenups are not always ironclad.

Is prenuptial agreement a good idea?

Prenuptial agreements can be tailored to match each individual’s needs and, in the end, protect both parties, not just the wealthier spouse. And, yes, if the marital union does sadly end up failing, having a prenuptial agreement in place can make for a very clean and painless break…a “smart divorce,” as it were.