A wedding often takes months and months of planning. You have to choose the ring, scout Montgomery venues, taste various cake samples, and even figure out how to keep Aunt Martha far enough from your mother so that no fights break out. Unfortunately, planning a wedding also means making preparations in case it ends in divorce. Most people say “I do” without any protection in place, but with a little extra time and planning, you can have a prenuptial in place before the big day.
Many people think that a prenuptial agreement will immediately kill the romance or possibly even end the relationship. However, the benefits of having a prenup in place far outweigh the risks. To find out more about why you should have a prenup, read further.
You know what you are getting into
Do you know any couples that got married without really knowing what the other spouse was bringing to the table, both in debts and assets? Don’t you want to know about her $100,000 of student loan debt before the next billing statement arrives? By talking about your finances early on, you can get what is often a hard conversation out of the way. You will also have an idea of how you will handle joint finances in the future.
It provides clarity about financial obligations
If you end up calling it quits, the two of you will know what your respective financial obligations are. For example, you specify alimony or spousal support, property division and various other aspects of a possible divorce. It could save months of fighting and negotiations if the two of you decide to divorce.
You get to practice compromise
Working through the terms of prenuptial agreement will give you and our future spouse a chance to see how well the two of you can come to a compromise over some major issues. In other words, if the prenuptial agreement goes well, your marriage might be able to stand the test of time. However, if the two of you cannot effectively reach an agreement, then it could be a indication that you need to rethink your future.
Before you walk down the aisle, you should take the time to draft a prenuptial agreement that provides protection for both you and your future bride in case of divorce. Be sure you do this sooner rather than later so that you can be sure your prenuptial agreement is properly prepared and valid.