If you’re about to get married, getting a prenuptial agreement may not top your list of concerns. After all, there’s plenty of planning to do, and working through a prenup may not strike you as the most romantic activity for a couple about to tie the knot.
Yet, executing a prenuptial agreement is usually a very sound financial decision; what’s more, it does not have to be the death knell of the romantic energy leading up to your wedding. By establishing a plan for the disposition of assets in the event the marriage ends, however unlikely, you are telling your future spouse that no matter what happens, you will never sacrifice the amicable relationship and good feelings you have toward each other simply due to squabbles over property.
So why get a prenup? The answers will vary in accordance with your unique financial situation, but there are some general factors that all prospective couples should be aware of.
Frank Discussions, Financial Safety Nets Are Actually Good For Relationships
Some relationship experts point out that a prenup can actually strengthen a relationship that is heading toward marriage. After all, the most common reason couples fight is finances, and putting everything on the table before the marriage will make discussing similar matters easier down the road. People in love often say that they can talk about anything, and this is the chance to prove it.
When it comes to financial incentives of getting a prenup, some couples believe that they do not have enough assets to necessitate such an agreement. After all, if there’s nothing to fight over in a divorce, why should a prenup be necessary? This, however, is shortsighted thinking.
While many couples start out on rocky financial footing, everybody in America has opportunities. Years down the road, a business venture could take off, savings might accumulate substantial value, hard work and ingenuity could truly pay off. Agreeing on the prospective disposition of marital wealth before the marriage, when everyone is getting along, is usually far easier than doing so in a divorce, when negative emotions may get in the way of compromise.
A prenup can benefit just about any couple, but there are few special situations in which it is particularly important. If you and your partner have a significantly different financial situation, you should always get a prenup; a prenuptial agreement can not only protect the wealthier or higher earning partner, it can give the less well-off partner assurance that he or she will be fairly taken care of if the marriage ends. Similarly, even if you both earn similar amounts, but your partner has a high debt load, a prenup can ensure that you won’t have to shoulder responsibility for the debts your partner accumulated before the marriage.
If a family is likely to become part of the equation (or already is), a prenup is always a good idea. If one of you already has children, a prenuptial agreement will help ensure that your assets are distributed according to your wishes in the event of your death, and that neither your new family nor your first family is cut off. If one of you plans to quit your job to raise your own children someday, a prenup will be able to spread the financial burden of one of you staying at home fairly between both partners.
Talk To A Family Law Attorney Today To Find Out Whether You Should Get A Prenup
Is a prenup for you? The best way to find out for sure is to get the opinion of an experienced family law attorney. An attorney can also advise you on the best ways to bring up the topic with your partner if you are having trouble broaching the subject. Talk to a family law attorney today to learn more about prenuptial agreements and what a prenup could do for you.