3 Reasons Every Couple Needs a Prenuptial Agreement

Sep 20

, Carroll Law Office

Without a doubt, prenuptial agreements get a lot of bad press. For many, signing a prenup is equal to taking the first step on a path that will surely end with a divorce – and that’s even before the couple actually gets married. It is true that a prenup regulates important matters related to property ownership and financial obligations of the spouses – and it does so in a way that can help a couple avoid bitter disputes over many in a divorce if it ever comes to that. However, the main purpose of a prenuptial agreement doesn’t necessarily have to be directly related to a potential divorce. In this article, we will consider 3 benefits of prenups that will make you consider signing a prenup even if you’re absolutely certain of your commitment.

1. Foster Communication About Money

Financial matters are one of the most difficult topics for couples to talk about – and one that often causes conflict and tension. However, trying to brush over or, worse, completely ignore crucial issues such as shared and separate property, debt, spending habits, and financial expectations can only increase anxiety and be extremely detrimental to the quality of the relationship.

Creating a prenuptial agreement is a perfect solution to that problem. It allows the couple to set forth their wishes and expectations on critical financial matters right at the beginning of their life together. This can help the couple avoid many unnecessary arguments about money in the future. Moreover, since a prenup is essentially legally binding contract, it can also motivate couples where each of the spouses has different money habits to make necessary adjustments to their financial lives and routines.

2. Back-Up Your Estate Plan

In most states, inheritance laws award a large portion of a person’s assets and property upon their passing to their surviving spouse. However, this may run against the wishes of an individual who enters into a new marriage while having children from a previous relationship. In such circumstances, a prenuptial agreement is an effective instrument to ensure that their estate is going to be divided between their heirs and their current spouse strictly according to their wishes.

3. Set Forth Expectations in Case Divorce Does Happen

A prenuptial agreement can be likened to an insurance policy. Buying insurance doesn’t mean you actively anticipate bad things to happen to you, your family, or your property. However, if they do happen, the financial protection may prove invaluable. Similarly, signing a prenup doesn’t mean you’re rooting for your marriage to fail. Still, not all events in life can be predicted. If your relationship becomes a victim of some unexpected life circumstances, a prenuptial agreement can help you avoid stressful arguments about financial matters during a divorce.

If you’re still not sure whether a prenuptial agreement is something that you and your spouse may benefit from, feel free to reach out to Carroll Law Office. We will be able to answer your and your spouse’s questions and disperse any doubts you may have about prenups.