Money woes are a common cause of divorce. For this reason, many seek a divorce in hopes of securing some sort of financial freedom. Yet, when those individuals who are facing financial difficulties go to dissolve their marriage, they find themselves facing battles of money and property. This can be a long, drawn-out, and ugly process that many people wish they could have avoided. The good news for those who are considering marriage is that they can avoid this potentiality by entering into a prenuptial agreement.
A prenuptial agreement is essentially a contract between soon-to-be spouses addressing a number of divorce legal issues so that, in the event of marriage dissolution, harsh bickering can be avoided. These agreements can address property and debt division, alimony, and even some estate planning issues. They cannot, though, address parental responsibilities like child custody and child support.
Many people falsely assume that entering into a prenuptial agreement is simply preparing for divorce, thereby dooming a marriage before it even starts. Instead, the creation of a prenuptial agreement serves as protection for each party so that decisions that may have to be made down the road are not made out of a place of anger and resentment. Discussing a prenuptial agreement can also foster open and honest communication in a relationship, which may actually help avoid divorce since poor communication is amongst the top three reasons people seek divorce.
So, in the end, is a prenuptial agreement right for you? It depends on your situation and what you want out of it. It likely wouldn't hurt, though. By working with an attorney who understands the purpose and the benefits of a prenuptial agreement, you may be able to raise the issue with your loved one and find an agreement that leaves you both feeling even better about starting your future together.