How a Prenuptial Agreement Can Make Your Marriage Better and Your Divorce Easier
Prenuptial agreements get a bad rap. Everyone thinks that any individual who offers a prenuptial agreement to their prospective spouse is betting on the marriage failing. Unbeknownst to most people, prenuptial agreements can offer clarity and security when it comes to your marriage, and often provoke conversations that are difficult to have, but ultimately quite necessary.
A prenuptial agreement, commonly called a prenup, is a legal contract that a couple enters into before their marriage. The document outlines the ownership of personal and financial assets determining what will happen to those assets in the event of a divorce.
For example, let’s say you own a business prior to your marriage. While the business is considered your separate property, the value that the business accrues during the marriage is considered marital property. Your spouse is thus entitled to an equitable portion of the accrued value of your business. To keep your business separate property, you will need to establish that it belongs to you and only you with a prenuptial agreement. This includes debts too. So considering a prenuptial agreement is very likely in your best interests.
Prenuptial agreements help foster transparent communication
When hammering out a prenuptial agreement, partners must sit down together and discuss their financial obligations toward the marriage and to each other. Discussing a prenup requires a level of communication transparency that is very healthy for a relationship. With the help of their attorney, couples are encouraged to lay all of their financial cards on the table. This includes sharing details about their assets, debts, and financial goals. This process can help build a foundation for healthy communication down the road. It helps build a foundation of trust and cooperation, as both parties understand the financial implications of their marriage. It also allows couples to address potential financial issues before they become a problem. This can avoid conflict down the road.
Prenuptial agreements help align marital goals with expectations
Prenuptial agreements are tools for aligning marital goals and expectations. When you discuss and document how to handle your finances, property, and potential challenges, you can ensure that you and your spouse are on the same page entering into the marriage. This clarity can help prevent conflicts that may arise down the line. Prenups can outline how the couple intends to approach financial decisions during the marriage. In other words, they’re not just about the divorce, but about how your marriage will function too.
Talk to a Philadelphia, PA Divorce Attorney Today
The Philadelphia family lawyers at The Law Offices of Lauren H. Kane represent the interests of couples who are looking to hammer out a prenuptial agreement before they tie the knot. Don’t worry, you’re not betting on your marriage to fail. You’re consolidating your goals and expectations for the marriage and avoiding conflict down the road. Call our office today to learn more.
