It’s not uncommon for two people with significantly different amounts of wealth to get married. And likewise, it’s not uncommon for these people to separate and divorce, resulting in a separation of the couple’s assets.
Now, although this might seem like a relatively straightforward and uncomplicated situation, the truth is that it usually isn’t. Dividing your assets can be very hard, especially if you didn’t have a binding financial agreement before you were married.
In short, financial agreements are designed to protect your property and other assets when you get married. That way, if you separate, you won’t lose your previous wealth. Below are five of our top reasons why you should always consider a financial agreement.
- Your Assets Will Be Protected
As unpleasant as it might be to think about separation before you even get married, the truth is that you need to. Signing a clear financial agreement well in advance will ensure your assets are fully protected if you do get separated. This reduces the risk of one partner taking a significant portion of the wealth that the other entered the relationship with.
- The Separation Process Will Be Easy
Separation is never easy, but having a clear financial agreement in place will help the process along. The chances of requiring a court hearing for asset separation will be much lower, and you will more than likely get your pre-marital wealth back.Read More