Prenuptial agreements are often misconstrued in the media. They can be viewed in a negative light, as a way for one spouse to shut the other out. Nonetheless, in reality, prenuptial agreements can be a positive for both spouses.
How can a prenuptial agreement benefit you?
Opening up conversations
It is not uncommon for spouses to be cagey about finances, particularly before the marriage or in the early stages of the marriage. A prenuptial agreement helps spouses get into the habit of having open and honest discussions about finances.
Financial infidelity is one of the leading causes of divorce. The open discussions inspired by a prenuptial agreement can help spouses avoid this altogether.
Protecting your assets
Some items and assets may be very important to you and your partner. Upon marriage, ownership lines can sometimes be blurred. A prenuptial agreement allows spouses to clarify the ownership status of high-value assets like businesses and real estate, sentimental heirlooms and much more.
Should a divorce arise, this gives each spouse confidence that important assets may not be subject to the property division process. This can reduce the length of time that the divorce takes, reduce the amount of conflict and ultimately keep expenses down.
Prenuptial agreements can have both psychological and practical benefits. Ultimately, they can be a good thing for the relationship. Nonetheless, should a divorce arise, they offer protection. Before signing a prenup, it will benefit you to have legal guidance on your side.