Online magazines UK - The young couple should take time to think about a prenuptial agreement

Joint assets or a prenuptial agreement

Many young people thinking about getting married are afraid to make a decision regarding assets which will become shared after marriage. They feel that it is a taboo topic. It really is not. In many cases, a prenuptial agreement is actually a great idea. Not only does it protect the interests of the families of the young couple but it is also a kind of security of interests for both parties. Unfortunately we cannot ever predict what will happen to the marriage. It is sad to think about such matters just before the wedding, but we all know how life can change. If some people would have decided on a prenuptial agreement they would have avoided difficult and stressful divorces. Bien Magazine looks at both sides of the coin.

Joint Assets

Marriage divides the assets from the moment the marriage is concluded. Here we talk about assets that were gathered together during a relationship. For example a house, an apartment, cars, boats, plots, cottages, but also pension funds and other investments of each spouse. Joint assets can also include the salary of both partners and income from other activities.

The responsibility for the actions of your spouse

Joint assets carry a threat whereby a situation arises when one of the spouses falls into debt, or does not fulfill financial obligations. Then the other party will have to jointly (or on their own) pay for liabilities.

Division of assets, called a prenuptial agreement

The division of assets is, in turn, based on the idea that assets accumulated during the time of marriage are owned by each party separately. A prenuptial agreement is completed in the presence of a notary or judge to make it legally binding. Spouses may jointly buy a house, car, etc. and then determine which of them has a higher or lower percentage of the purchase. Preparing of the prenuptial agreement requires consent from both spouses, if one does not agree the document will not be able to exist.

What is the wiser choice?

We let everyone answer this question themselves. There is a very radical belief that a prenuptial agreement kills trust or even feelings. However, the experience of many couples who have signed a prenuptial, show that this is not true. Those couples are often happier than those who chose to have joint assets and they treat money matters as completely normal – they happily co-invest or buy various goods.

 

Author: Bien Magazine

Photos: DepositPhotos

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