There are many important decisions to make as you close in on your wedding day. If you've yet to consider the benefits of a prenuptial agreement, there is no time to waste.
Whether you move forward with this agreement is a personal decision. Furthermore, it's something you need to discuss with your soon to be spouse.
There is no denying the fact that it can be a challenge to discuss the details of a prenuptial agreement with your partner. You may worry that this could put your relationship on shaky ground before you ever tie the knot.
Although it can be difficult to bring up the topic of a prenuptial agreement, you don't want to avoid doing so because of your fear. Instead, you should sit down with your partner and lay out the benefits of a prenuptial agreement. By doing so, both of you can have a conversation about the pros and cons of moving forward.
Here are some of the primary benefits of a prenuptial agreement:
- Allows both individuals to document the property they are bringing into the marriage, thus keeping it separate in the event of a divorce.
- It can help support your estate plan.
- The ability to document any special arrangements that you want to put in place before your marriage.
- To reduce conflicts in the event of a divorce.
- To assign debt to each individual, which helps ensure that it's not assigned to the other party during a divorce.
You may have reason to believe that discussing a prenuptial agreement will cause more harm than good. However, you may soon realize that this has the opposite effect. Instead of creating an argument, it allows you and your partner to learn more about each other's financial situation and future goals.
Final tip: Don't wait too long to discuss the benefits of a prenuptial agreement. There is a lot that goes into creating this legal document, so you have to leave yourself plenty of time to work through the details.
You may be tempted by a DIY prenuptial agreement, but this may not hold up in the court of law. For this reason, consult with a family law attorney who can explain the process and ensure that both parties take the necessary steps at the right time.