Prenuptial agreements have been a legal option for quite some time. However, due to commonly held negative perceptions about such agreements, many people may have avoided signing them before exchanging vows. After all, divorce probably isn’t the first thing your mind when you’re preparing for your wedding.
Yet some family law observers believe long-held attitudes about prenuptial agreements could be changing.
The increasing popularity of the prenup
According to a poll of the American Academy of Matrimonial Lawyers, family law attorneys have noticed a definite uptick in the number of couples seeking prenups in recent years. People understand that signing a prenuptial agreement is a form of insurance, rather than dooming a marriage to end in divorce.
Having a prenuptial agreement in place can prepare couples for whatever turns life may take. As such, divorce proceedings can move much more smoothly with a prenuptial agreement in place, if couples eventually decide to split up.
Factors to consider
As couples take time to think about their approaching marriage, they may want to consider whether or not a prenuptial agreement is helpful. Of course, it’s not necessarily an easy conversation to have, but it can open the door to very important topics.
When an agreement is created, couples can gain a full understanding of the assets and liabilities each person is bringing into the marriage. In addition to joining personal lives, marriage also entwines the financial affairs of two people. Having complete disclosure could prevent misunderstandings down the road, since financial issues often strain marriages.
Furthermore, prenuptial agreements are about shielding each spouse from undue financial harm. For instance, it could protect you from inheriting your spouse’s student loan debt. It could also serve as an opportunity for both of you to get on the same page with respect to spending. When thoughtfully crafted, a prenup can help and protect you and the person you love.