A prenuptial agreement is a legally binding contract that clarifies certain matters in the event of a divorce. In fact, prenups are often a critical planning tool for soon-to-be spouses to start a marriage off on the right foot.
For these reasons, a growing number of younger Americans are choosing to execute prenuptial agreements before walking down the aisle.
If you are part of a newly engaged couple, you probably are focusing on the positives of marriage rather than the possibility of a messy divorce. If you wait to negotiate important matters until your marriage is on the rocks, conflict may be inevitable.
With a comprehensive prenup, you have broader latitude to define marital and separate property. You also can clarify spousal support and other related issues when you are thinking clearly.
Talk productively about sensitive subjects
It can sometimes be difficult to discuss finances, goals and other sensitive topics even with those closest to you. When you write a prenuptial agreement, you have a framework for talking about potentially awkward subjects in a way that is both productive and proactive. Doing so may strengthen your relationship and give you some peace of mind.
Set a precedent
If your marriage lasts a long time, your prenuptial agreement may no longer meet your needs. You have the option to execute a new agreement that supersedes your existing one. That is, you may decide to draft a postnuptial agreement that better fits the intricacies of your relationship. By working on any prenuptial agreement, you set a precedent for planning ahead that may boost your odds of succeeding as a married couple.
Additional planning in any marriage makes sense. Put simply, with a well-written prenuptial agreement, you protect your future. Even better, executing a prenup before your wedding may actually improve your relationship.