Maybe your fiance suggested a prenuptial agreement and you took offense at the idea. Perhaps you told your co-workers that you recently got engaged and they asked if you planned to draft a prenuptial agreement.
Although your instinct may be to decline such a suggestion, there are many compelling benefits that come from prenuptial agreements. Whether your partner already asked you to sign a document and you declined or you wonder if you might be able to convince them to sign a prenuptial agreement, the three reasons for executing one listed below could help change someone’s mind about the value of a prenup.
- A prenuptial agreement ensures that spouses share priorities and expectations
The way that you view marriage might be significantly different from the way that your fiance does. Everything from your parents’ marriage to the community that you grew up in will influence what marriage means to you and what you expect from it.
Even if you and your spouse are in agreement on many major issues, you might still not share identical expectations for your marriage. By talking about major decisions like children and financial plans for the future now, you can enter a marriage with similar perspectives.
- A prenuptial agreement takes the fantasy out of divorce
The idea of divorce can sometimes be an escapist fantasy after years of marital routine. Dreaming of freedom and a major windfall could result in temptation later in a marriage.
One of the most important things people include in the prenuptial agreement is a plan to divide their property. You could outline how you intended to divide property between spouses or your plans for alimony if one spouse stays home to take care of the house or raise children.
By having specific terms already set, the outcome of a divorce, therefore, becomes predictable and less tempting to someone experiencing emotional stagnation in a relationship.
- A prenuptial agreement sets you up for a better relationship after divorce
If you definitely intend to have children, the possibility exists that you could divorce and still have to see each other several times a week. An acrimonious and expensive divorce might make co-parenting harder than it needs to be for you and your children.
Setting terms for your divorce now in a prenuptial agreement will allow you to have a faster, uncontested divorce. Since you don’t have to fight, it will be easier for you to rebuild your relationship and work together as co-parents.
Privacy is another benefit of having a marital agreement, as you won’t have to disclose all of your personal issues in court. Additionally, you and your spouse may feel more confident pursuing personal and professional success if you know you have already protected certain assets as your separate property.
Drafting and signing a prenuptial agreement can strengthen your relationship and protect you if your marriage doesn’t last for the rest of your life.
