5 Benefits of a Prenuptial Agreement
The negative stigma attached to a prenuptial agreement is a detriment to many people who could actually benefit from getting one. The idea that bringing up a prenuptial agreement means you expect an upcoming marriage to fail is not only highly outdated, but in many cases entirely false. Instead, many people pursue this option because they’re aware of just how much it could help them by getting a matrimonial agreement. A prenuptial or postnuptial agreement can help you handle your finances in many different situations– they are not limited to divorce agreements.
Already married? We can help you with a postnuptial agreement, too.
Here are five benefits of prenuptial agreements you may or may not be aware of:
- Opens Difficult Discussions
One of the reasons why so many marriages fail nowadays is that many couples never take the time to have difficult discussions before they tie the knot and start out on their life’s journey together. When one of these difficult subjects comes up, irreconcilable differences arise, and the marriage collapses. Getting a prenuptial agreement assists you and your future spouse with having these conversations and ironing out your differences. It also gives you the chance to call off the marriage before it’s too late, if you can’t overcome them.
- Protects Your Property
What is your personal property? What will be community property? Do you have anything that’s a particularly special family heirloom that you wish to protect should you choose to get a divorce? Do you own a business? Each of these different types of property can be protected in a prenuptial agreement.
- Supports Your Future Plans
A prenuptial agreement can make modifications to and support your estate plan. For example, some people choose to place provisions into their prenuptial agreement that modify their Will to remove their spouse as a beneficiary of the estate plan should a divorce ever happen. Additionally, if one of you ends up with credit problems or filed for bankruptcy, a matrimonial agreement can keep those issues from affecting both of you.
- Reduces Conflicts & Saves Money During Divorce
The most contentious divorces are between spouses who try to go after every bit of property and every inch of leeway their spouse will give them. It’s no surprise that these are also the most expensive and stressful divorces. Ironing out these differences and making agreements ahead of time can resolve many of these divorce conflicts before they can get out of hand.
- Puts Special Agreements Between You & Your Spouse Into Writing
If you and your spouse have any special agreements that you wish to enact upon your divorce, you can make them official by putting them into writing in your prenuptial agreement. These can be related to things like child custody, property division, or even things like insurance coverage or spousal support.
More examples of how a prenuptial or postnuptial agreement can assist you in situations other than a divorce, visit our page on Prenuptial/Postnuptial Agreements.