Planning a wedding can be exciting and tends to take up much of the attention of couples. However, it is also important to plan for what will happen if the marriage does not work out.
Having a prenuptial agreement is one way to clarify how property will be divided in the event of a divorce. Not only can disputes be avoided, but prenuptial agreements can also offer some sense of stability during the course of a successful marriage.
Prenuptial agreements can improve communication
Prenuptial agreements have the potential to open up a line of communication between couples in terms of finances. Debts, assets and savings play a key party in the daily life of spouses. Having a prenuptial agreement in place is a sign of transparency, which may prevent disagreements over finances in the future.
Prenuptial agreements offer security
Having a binding legal agreement in place that governs how property will be divided in the event of a divorce can be of benefit to couples. Crucially, it takes the matter out of the hands of the court and lets the couple retain control over their property. Furthermore, if terms are noted in writing, while the couple is happy, the outcomes are more likely to be fair. This may protect all parties from potential trauma arising from highly contested separations.
Understanding the potential benefits of a prenuptial agreement and what kind of provisions should be included in one could be in your best interest. As a spouse, it is important to remember that you have legal rights and protections in a divorce.