Many engaged couples are divided over the issue of whether to create a prenuptial agreement between them. While some people believe that prenuptial agreements are unromantic, others believe it is a practical prerequisite to the modern marriage, considering the high rates of divorce and separation.
There are many candidates who may be ideal for a prenuptial agreement. Here are a few examples:
- People who own their own businesses may wish to protect not only their own assets and properties, but also their sole proprietorships or their companies.
- Songwriters, authors, researchers and scientists may also wish to protect their intellectual property.
- One spouse may wish to protect some specific property or asset such as an inheritance, a house or a car bought before the marriage.
- In the case of a second or third marriage, to protect the financial rights of the children from other ex-spouses or previous relationships.
- Prenuptial agreements may also be critical in cases where the spouses not only have substantial wealth, but also where substantial debt exists in the name of one of the spouses.