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Protecting your future together with prenuptial agreements

On Behalf of | Jun 5, 2024 | Premarital Agreements

Discussion of marriage often centers love and partnership. In this context, the topic of prenuptial or premarital agreements – sometimes called prenups – can spark both interest and concern.

However, these legal documents can be a practical tool that benefits couples in many ways. As a result, they have become more common in recent years, with 15 percent of married or engaged Americans reporting that they have signed a prenup according to The Harris Poll. Why should you consider creating a prenuptial agreement?

Protecting assets

A prenup ensures that each person can protect what they bring into the marriage. This is particularly important if you own substantial assets, family heirlooms, investments or stake in a business. A prenup keeps these assets safe. It can also prevent them from becoming a source of conflict in divorce.

Protecting legacies

For individuals with children from previous relationships or significant family inheritances, a prenup can safeguard these interests. A premarital agreement ensures that the assets left to them or their children pass to those loved ones as intended rather than being caught up in the divorce process.

Supporting fair property division

Without a premarital agreement, state laws typically define what happens to a couple’s assets. This may not reflect their wishes. A well-crafted prenup allows couples to set their own terms for asset division and spousal support. This can lead to more amicable resolutions if the relationship ends.

Fostering open communication

Some people think that prenups indicate a lack of trust in the marriage. However, creating a prenuptial agreement can build deeper understanding between partners. This process encourages couples to openly discuss their financial views.

By addressing important topics early on, couples can prepare for the financial aspects of marriage. They can also enhance their ability to communicate about other issues in their life together. As a result, creating a prenup has the potential to strengthen the relationship.