In the modern world, making safety decisions is never the wrong idea. You should always think practically whenever you are going for a big change in your life, such as marrying the love of your life.
While all relationships are built on the basis of love and trust, it is still important to plan for contingencies. Prenuptial agreements are a way to do just that. In fact, coming to an agreement, before marriage, can be even more beneficial to the relationship. As a result, new-age lovers want to start their new journey after ensuring that their future is safe. That is why there is a rise in the number of couples signing a prenup before they tie the knot.
When you are in love, it is natural to completely trust your other half. On the other hand, it is also crucial that you handle situations like prenups with utmost responsibility. As more and more people have started to realise the importance of constructing a smart prenuptial contract, many are consulting private investigators in the UK before signing it to make sure they are making the right decision. According to the expert detectives, you should consider the following things before signing a prenup.
#1 Hire an expert Solicitor
Before anything else, you must appoint a proficient solicitor. The prenuptial agreements are already considered as completely non-romantic, therefore, drafting one for yourself on your own is not recommended at all. For that, a professional lawyer is enough who is well-versed about the current regulations in your respective cities and can efficiently draft prenups. Marriages are surely a blessing, but one should never put all their eggs in the same basket. In order to secure your financial standing in case something goes wrong in your married life, a carefully and tentatively drafted prenup will keep you protected. Nevertheless, cash spent on an efficient solicitor is a smart investment for a secure future.
#2 Gather up all your financial records
The next thing to do, after getting in touch with a proficient lawyer is, gathering up all your documents that define your past and prevent financial standing. They can be:
- Annuity funds.
- Bank statements.
- Appraisal for your home.
- Retirement accounts.
- Costly assets like cars, boats etc.
- Recent tax returns and pay stubs.
When you sign a prenup, you have to exchange valid information about your assets with your soon-to-be-partner. Talk with your solicitor in detail about all of your queries regarding your finances, so there is no confusion or loopholes in the drafting of the prenuptial agreement.
#3 Make a list of your liabilities
As you will be sharing your entire life with your spouse, it is always best to stay honest about everything, even when it comes to finances. Your lawyer will ask for a list of your liabilities so that they can add them in the prenup. You should include:
- Credit card debt
- Home equity line.
- Student loan (trade school, college, or graduate school)
- Personal loans that you owe to family and friends.
- Auto loan and other similar debts.
The trick to carry out this step is to revisit all your past documents, gather them in one place, and note down all your liabilities before meeting your lawyer. This strategy will help you stay in clear waters from the beginning.
#4 Keep two copies of every document
The thing about hardcopy documents is that they can always get lost, or end up in the hands of the wrong people. Such situations can lead to unfavourable circumstances, including fraud. If you want to avoid incidents like these, always have two copies of your documents. Keep one for yourself and give the other one to your lawyer. Another thing that you can do is save all your papers in an electronic file. This way, there will be fewer chances of them getting lost.
#5 Make sure you are doing your responsibility right
Prenuptial agreements are sensitive contracts. Consequently, they get reviewed very carefully to make sure that there are no unfair or illegal propositions in it. As both the parties engage through their lawyer, always make sure that the agreement between you and your partner is always clear. Avoid playing any mind games while creating prenups, as a primary purpose of a prenup is to create a secure future for you, as well as your partner.
These tips will help you create a stable and secure future for yourself. Keep all of these in mind, so you can tie the knot and start a beautiful chapter of your life with a safe future ahead.