Prenuptial Agreements can Facilitate Important Conversations
On behalf of The Law Offices of Cindy D. Sackrin posted in Divorce on Wednesday, February 25, 2015.
Prenuptial agreements may be appropriate for all different kinds of people in a variety of different places in their lives and a variety of different situations. Many couples, however, may be intimidated by prenuptial agreements or not fully understand their purpose or how a prenuptial agreement might help them. One useful purpose of a prenuptial agreement is to open important dialogue between the partners concerning discussions the couple may want to have prior to marrying.
The benefits of prenuptial agreements extend beyond the division and protection of assets, though they do that too. Prenuptial agreements open up communication and can help manage expectations between partners. While there may be many benefits to having a prenuptial agreement, prenuptial agreements can also clarify up front how property the partners entered the marriage with will be treated and, likewise, how property the couple acquires together during the marriage will be treated.
In addition to addressing important property-based concerns, prenuptial agreements can also address debt concerns, as partners may enter the marriage with student loans, credit card debts and child support obligations. Prenuptial agreements can also address issues related to children, such as what religion the children will be raised as or how holidays will be handled. While most end-of-marriage decisions are subject to approval by the court to ensure fairness and legality, couples are able to make many decisions themselves which will save enmity and resources, such as times and money.
Prenuptial agreements are essentially an agreement between the couple concerning how issues important to the couple will be handled at different times during their relationship. Couples do not likely want to consider when entering a marriage what might happen should their marriage come to an end. However, a prenuptial agreement can make the divorce process, should it come to pass at some point for the couple, smoother and more efficient.
Source: Business Insider, "Here's Why Every Couple Should Get A Prenup Before Marriage," Libby Kane, Aug. 5, 2014