Many couples planning for their marriage may not want to think about the benefits of creating a prenuptial agreement. However, having a prenuptial agreement may be one of the best decisions you can make in the long run if your happy marriage ever turns into a contested divorce.
A prenuptial agreement allows a couple to discuss what would happen to their assets and property in the event of divorce before their relationship turns sour and it is difficult to communicate about anything in a civilized manner.
While not all divorces involve heated arguments over the who get’s the leather couch, it is difficult to tell how the divorce negotiations would be handled when the couple no longer wants to be together.
That is why it may be beneficial to consider creating a prenuptial agreement. Getting divorced without a prenup will require the couple to divide their assets according to state law and could mean that one or both spouses end up with a divorce settlement they are not happy with.
Prenuptial agreements usually address how assets like bank accounts, retirement accounts and life insurance plans would be divided in the event the couple gets divorced. Prenups can also address how specific items would be divided, like artwork or vacation property as well as have infidelity clauses with certain stipulations for each spouse.
Prenuptial agreements can make sure both spouses are taken care of in the event of divorce and give both spouses a sense of security and ease during the divorce since they have already decided how their assets and property, among other things, will be divided.
There are many benefits of having a prenuptial agreement and each prenup can be specifically catered to each couple. Couples thinking about having a prenup should contact a divorce attorney to discuss the process of creating a prenuptial agreement.
Source: Forbes, “Skittish About A Prenup? Like It Or Not, You Already Have One,” Jeff Landers, July 17, 2013