Many people considering marriage share a reluctance to discuss a prenuptial agreement. After all, talking about how to dissolve a binding relationship just as it begins can seem like a cynical approach.
A bit of solid information about this topic goes a long way and reveals unexpected benefits.
It could strengthen a marriage
An article in Brides suggests that instead of fearing this legal contract, a couple should embrace the prenuptial agreement. One busy attorney said that though the divorce rate in the state of California exceeds 50%, only a few clients with prenups return to file a divorce.
Also, a prenup forces future spouses to discuss financial matters, one of the biggest causes of divorce. This can provide some needed clarity on issues such as spending habits, debt, inheritance and attitudes. Most parties walk away from a prenup discussion with much-needed information about his or her partner.
A prenup could clarify specific situations
While some young couples can probably get by without a prenup, many others have situations that call out for frank consideration. For those embarking on a second or third marriage, they may already have complicated financial entanglements. Sorting these out remains one of the biggest benefits of a prenup.
The presence of previous children also calls for a careful discussion of marital assets. Prenups also clarify several other common situations:
- When the parties come from different financial backgrounds
- When one party holds significantly more wealth
- When one person has a lot of student debt or other liabilities
- When one person owns a business
Failure to consider a prenuptial agreement could hurt a marriage. Careful wedding planning should include a careful discussion about this important topic.