A wedding is a ceremony joining two people in marriage. It is a romantic and often grand gesture. Marriage itself is an agreement between a couple to share duties, including things such as raising children, making money, and amassing property. It is often the stress of dealing with these duties that lead to a strain in the relationship and may end in divorce. Severing the marital bond may prove emotional, costly, and lengthy. A prenuptial agreement is a contract executed before the wedding that may help ease the stress of a breakup. Learn about why the document is gaining in popularity.
Encourages Uncomfortable Conversations
Money issues are still the number one reason cited for divorce. Disagreements about handling money are often rooted in childhood and early adulthood. Some people have a responsible view of money and not only set out to make a great deal of it, but are also good at saving it. Other individuals don’t think twice about debt and charging the things that they want instead of saving. While a couple is dating, their disparity in how they view money may not be so apparent. However, once settled into married life, it may create great strife.
A prenuptial agreement forces a couple to talk openly and honestly about finances. It may prove a useful tool in getting the couple on the same path. Should a marriage end, the prenup details the couple’s arrangement about splitting their marital finances, property, and debt. It also designates that property that may be kept separate from the divorce. Since fighting about the division of property and assets is a significant component in divorce, having this already hammered out beforehand is a benefit.
Preserves a Child’s Legacy
It is not uncommon to marry someone with children. Many families these days are blended. Before a parent walks down the aisle with another, the issue of caring for existing children may arise. One stressor in a blended family is the uncertainty with which heirs will be handled in the event of the death of a biological parent or the divorce. While a prenup cannot set money aside for unborn children between the couple, it can dictate how children not in common are cared for. A prenup merely explains the way money is filtered to heirs in the event of a divorce between non-biological parents.
An attorney can provide further guidance on the role a prenuptial agreement plays in a marriage. It does not doom a couple to divorce court. Instead, it may open up a more honest dialogue about sensitive issues before the marriage begins.