Posted on: 12/22/2020 Posted by: Elizabeth Martinez Comments: 0

Although prenups (or prenuptial agreements) are considered less than romantic, those may be one of the best things you can do to your relationship. However, less than 10% of spouses enjoy the full benefits of a prenup. It is a common misconception that asking your fiancé to sign a prenup is a sign of a lack of trust. However, many couples feel more faith in their partner after going through the prenuptial agreement process.

Discuss Important Issues Before Marriage

A prenup is the best way to sit down together and talk about critical marital issues. It includes finances, employment expectations, and asset ownership. A surprising number of couples do not communicate their financial expectations before marriage, which can lead to a lot of resentment in the future. When you hire an experienced mediator to help you with your agreement, he or she will guide you through the critical prenup issues. You are also free to incorporate specific concerns as you go along.

Clarifies the Outcome of Divorce

divorceSuppose you do not sign a premarital agreement. In that case, local laws will automatically govern your divorce, especially if you have plans to move to California, a community property state. That means each spouse automatically has a 50% interest in all assets acquired during the marriage, including business earnings, retirement, and more. For most couples, this is perfectly fine.

 

However, for couples who are in business or have particular financial difficulties, this can be devastating. Without a prior agreement, you relinquish all control over the divorce process. Your dissolution could become a long and expensive battle. With a prenuptial agreement, you and your former spouse can explain what should happen in the event of a divorce.

Ensures Marriage Insurance

A prenuptial agreement is a great way to protect both spouses in the event of a divorce. Of course, no one seems to expect one. But no one plans on their house burning down, crashing their car, or getting sick. For those unforeseen cases, everyone buys insurance. A prenuptial agreement is simply marriage insurance with no monthly premium. Engaged couples must talk about creating a prenuptial agreement before marriage with all these benefits. Sitting down with a neutral third-party, like a mediator, is the perfect opportunity to discuss your agreement.