Getting married is one of the happiest times in a person’s life, so it is not a surprise that the last thing couples want to talk about is a prenuptial agreement. Here are the top 5 reasons why you should talk to your partner about a prenuptial agreement:
- When you get married, you are still entering into a legally binding contract, you just don’t get to decide the terms.
A marriage is a legally binding union that comes with certain legal rights and obligations in the event of divorce. If a married couple gets divorced without a prenuptial agreement, the divorce will be governed by the divorce laws of whatever state in which the couple is getting divorced, and many people are unfamiliar with divorce laws before they decide to get married.
A prenuptial agreement is a way for couples to learn about divorce laws before entering into a legally binding agreement to be bound by those laws.
- Prenuptial agreements allow people to have control over what happens if they get divorced, but it does not mean that you plan on getting divorced.
People plan for many things in life that they do not expect to happen or hope will happen. For example, people get different types of insurance, not because they expect to need it or hope they will need it, but because they want to make sure they are protected in the unfortunate event that the insurance is needed.
This is the same for a prenuptial agreement; it is a way for you to control the outcome of a situation that you do not expect to happen and hope will not happen. A prenuptial agreement allows couples to decide their own legally binding terms when people are happy, are planning a life together and are in a position to make reasonable and rational decisions about what they want to happen in the future if the unfortunate situation arises.
- When creating a prenuptial agreement, each person is encouraged to have their own family lawyer to provide guidance, answer questions and help create a prenuptial agreement that satisfies everyone.
If you decide to get a prenuptial agreement, you and your partner will each be encouraged to engage your own family lawyer who will work individually (and confidentially) with you to provide an overview of the relevant divorce laws, answer any questions and provide advice on potential terms for the prenuptial agreement depending on your needs and goals.
In many situations, couples work together to decide what terms they want to be included in their prenuptial agreement, and the lawyers provide guidance and the written agreement along the way.
- Your family lawyer can guide you through talking to your partner about difficult issues related to prenuptial agreements.
Prenuptial agreements still require couples to have tough conversations about divorce. Your family lawyer is there to help guide you through this process. Although it may be your first prenuptial agreement, your family lawyer deals with prenuptial agreements on a regular basis and has experience in effective ways for partners to communicate about issues that may be difficult, especially during a time when partners would rather be planning their future together as a happy couple.
- Prenuptial agreements are not just for wealthy individuals.
People often believe that there is no reason to get a prenuptial agreement if you are not wealthy, but prenuptial agreements are helpful for people in all financial situations.
Not only is a prenuptial agreement a way for couples to learn about divorce laws and to set their own terms in the event of a divorce, it creates a forum for couples to have productive conversations about a variety of issues relevant to a prenuptial agreement that are important to talk about before marriage, like how much money each person earns, what each person’s individual financial picture looks like, including debts, where they may want to live during the marriage, whether one person may want to stop working during the marriage, whether you plan on having children and how expenses will be paid or shared during the marriage.
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