You and your partner have been planning the perfect wedding day for years. It’s all falling into shape. You have a venue, caterers, guest invites, attire and all the other essentials in place. Is this the end of the planning stage?
Many couples plan up to the day of the wedding, and neglect to look further into the future. The reality is that unexpected events can come up, and it’s best to be prepared. A prenuptial agreement can help.
Prenuptial agreements commonly get a bad reputation. They may be viewed as a sign of mistrust between a couple about their commitment or future. However, this is not necessarily the case, and here’s why.
They promote open discussions about financial matters
When you look at divorce statistics, financial disagreements are one of the leading causes of couples going their separate ways. Frequently, dishonesty is at the heart of this.
One spouse may have hidden vast sums of cash or made significant purchases without their partner’s knowledge. Dishonesty breeds mistrust and prenuptial agreements are a way to counter this.
Prenuptial agreements allow both parties to know where they stand from the very beginning. If you can talk openly about finances before your marriage commences, this gives you a platform to build on in the future.
You can minimize the chances of a major conflict later
While a prenuptial agreement largely centers around finances, there is much more to it. You and your spouse can make provisions for the future of your children, especially in blended families. For example, you can ensure that they have access to a college education, no matter what happens in the marriage. You may also factor in care for elderly relatives or inheritances.
Even if your marriage doesn’t work out, a prenup can ensure that your loved ones don’t suffer unnecessarily.
It’s certainly worth having a discussion about prenuptial agreements before the wedding day. If you are unsure about your legal rights and responsibilities, it may benefit you to get in touch with someone knowledgeable in this area.