Marriage is supposed to be a life-long commitment. But divorces occur because no one can know their spouse’s actions over the coming months, years, and even decades after their wedding. A high divorce rate is why more and more people are pondering the benefits of prenuptial agreements.

1. You may wish to think about a prenuptial agreement if there is financial debt.

Many couples are reluctant to talk about the subject of school loans, credit card debt, or an eventual mortgage since the issue is just plain sad. There is, however, an evident gap between one spouse with significant obligations and the other who has a small amount of debt or none whatsoever. Someone who is debt-free or has just a tiny debt must have a prenuptial contract outlining each spouse’s financial obligations and how the debt will allocate should there be a divorce.

2. Take into consideration a prenuptial agreement if one person has more assets.

The majority of couples don’t have an identical quantity of money. So it doesn’t make sense for someone with no assets to go through a divorce and capture the majority of their ex-partner’s assets. Therefore, the assets of each party must be defined and quantified in current dollar amounts in the prenuptial contract, which outlines exactly how the assets will divide should the marriage break up in divorce.

3. You should consider a prenuptial contract if you are involved in a business.

Businesses of all kinds must have a comprehensive prenuptial agreement before getting married. It is possible to move forward with no legal protection for the company, eventually making it vulnerable if the spouse or husband chooses to split up. In addition, it would be a massive injustice if an unworthy spouse is granted a portion of the profits or business from the company if the marriage was to end with divorce. Potential injustice is why all business owners should have a thorough prenup in place before tying the knot.

4. Think about a prenuptial contract if there is an imbalance in income.

Although married couples share almost everything, they are less sharing of their earnings as time passes. We live in a merit society where people are rewarded for their efforts, talent, and intelligence by receiving financial rewards. The breadwinner who earns higher than their spouse should have a written agreement to protect these accumulated earnings and reduce any alimony obligations during the time of divorce.

5. Consider a prenuptial agreement if children are involved.

Being a parent means you have to take time off of working hours or hire an individual to look after the kids in the day while dad and mom are working. In addition, couples who plan to have one or more children will require a prenuptial agreement. The legal document outlines how much alimony is paid and may offer such payments to parents who stay at home until the child is 18 years old. Such action is especially important if one parent has given up a full-time career to stay home with the kids.