Preparing to marry and start a new life with your fiancé is an exciting time. Before you walk down the aisle, you may find it beneficial to consider the benefits of legally protecting your property rights and financial interests in the event of a future divorce. You can do this by drafting a thoughtful prenuptial agreement.
A prenuptial agreement does not seem like a romantic thing to do, particularly right before a wedding, and for this reason, many Utah couples refrain from taking this step. It may not seem romantic to think about the things that could happen in the event of a divorce, but it could be beneficial for your future. As you consider your prenuptial agreement, it is smart to also include your digital assets.
What is in your prenuptial agreement?
A prenuptial agreement serves the purpose of outlining what happens to marital property in the event of a divorce. This can save both parties a tremendous amount of time fighting over assets, but that is not the only purpose of a prenuptial agreement. Many young couples have a significant amount of digital assets, and it is prudent to include those as well.
Simply because an asset is not visible or tangible does not mean it is not valuable. Digital assets include everything from downloaded music to stored pictures to digital currency. If you have these assets, consider the following when including them in your prenuptial agreement:
- Many couples find that it is easier and beneficial for both parties to maintain separate online accounts, keeping digital assets separate. You can include this as part of your prenuptial agreement.
- Digital assets are complex, and it is prudent to seek an appropriate appraised value for each one. This can help you draft a complete and thorough prenuptial agreement.
- Before you marry, you may find it helpful to make copies and update records of all of your digital assets.
The efforts you make to protect yourself before marriage can be greatly beneficial in the event of an unexpected outcome in the future.
Planning for a strong future
A prenuptial agreement is not planning on your marriage to fail, it is simply planning for your protection in the future. There are many benefits to having the right protections in place, and a prenuptial agreement can give you and your fiancé confidence and security as you look forward to the future together.