In the past, the idea of getting a prenup signaled that something was fundamentally wrong with a relationship. Why would a couple need a prenup if they planned to stay together forever? Wasn't that like admitting defeat before the marriage even started? Or, prenups were considered to be only for the wealthy. Times have changed, and many young couples now consider prenups as an opportunity to plan a shared life, rather than preparing for the worst-case scenario. Consider speaking with an experienced and trustworthy family law attorney about prenup with your spouse-to-be.
The Benefits of a Prenup
Even if you and your fiancé are “normal” people, rather than celebrities or exceptionally wealthy, you could benefit from putting a carefully crafted prenuptial agreement in place prior to marriage. The advantages include:
- A prenuptial agreement will address and plan how to handle the debt you are bringing into the marriage. Many young people these days have student loans, and a prenup can protect each of you.
- You get to work out the details of your finances now, rather than down the road. Financial issues bring stress to a marriage, and sorting these matters out prior to marriage can smooth the road ahead for both of you. In the event of divorce, there will be no need for drawn-out and painful negotiations.
- Prenups address family issues as well as financial matters. You can decide everything from how children will be raised to what role religion will play in your family. You can and should have this discussion with your fiancé in any case, but putting it in writing can help to lay a foundation for a long and happy marriage.
- A prenup is binding, but can be changed in the future if necessary. The agreement can be amended should the two of you decide to do so.
How to Get a Prenup
To have a well-crafted prenup that protects both parties, you will need the help of a lawyer with experience in this specific area of the law. It can be valuable to begin the discussion about putting a prenup in place after you become engaged, or even earlier.
First, on your own, reflect on what will be most important to you in the prenup. Each of you should make a full list of your assets and debts. Together, talk about your financial goals, your plans for children, retirement, and how you envision your future together.
If you and your partner have decided to put a prenuptial agreement in place, contact the attorneys at Access Lawyers Group for assistance.