Prenuptial Agreement - Do you Need One?

As you begin preparation for your wedding, something that many couples try to avoid is discussing a prenuptial agreement.

A prenuptial agreement is a legal contract that is signed and notarized before your wedding, which spells out how property and other assets would be divided up in the event of a divorce. Though this is a very touchy subject that most couples dread, it may be practical for you to discuss signing a prenup. This is especially the case if one partner is bringing a large amount of assets into the marriage.

When discussing a prenuptial agreement, please remember that having a prenup is not an indicator that you don't trust your partner. It is just a responsible way to handle financial concerns prior to your actual wedding date. Prenuptial agreements can be used to agree to a variety of things, including how pre-marriage assets will be distribute if one spouse dies, how children from prior marriages will be cared for financially, and how property and monies will be split in the event of divorce.

A prenuptial agreement is a precautionary measure which is designed to protect everyone involved. Since all the details will be in writing, no financial concerns will be an issue if/when your marriage does end.

It's best to discuss a prenuptial agreement very early on during your engagement. With the anxiety that comes during the wedding planning period, you don't want to add another stress. Sometimes one spouse gets very upset talking about a prenuptial agreement, leading to arguments or feelings of betrayal. Therefore, you should try to get the topic out in the open and resolved as early as possible.

If your future spouse refuses to sign a prenuptial agreement and you insist on having one, it may be best to involve a mediator, such as a marriage counselor or member of the clergy, to help resolve the issues. If you or your partner don't understand all the specifics and legalities of the prenuptial agreement, get an attorney involved to answers any questions.

Though it is not a very romantic subject, it is oftentimes in the interest of both partners to consider the possibility of a prenuptial agreement.

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