Are you and your partner considering taking that next step and entering into a marriage?

In the past few years, more and more couples are deciding to enter a prenuptial or antenuptial agreement. While these agreements tend to be viewed apprehensively, they can help provide stability and authority over a situation where parties may feel very vulnerable.  They are being utilized more and more to help provide certainty in many situations from second marriages to blended families.  They are no longer just tools to protect the monied spouse’s wealth.

Prenuptial agreements are legally binding arrangements in which both parties agree to disclose all assets and debts and address any range of difficult issues a couple may want to address either during the marriage or in the event the marriage ends. Some of these issues range from how to handle a situation where one spouse is a stay-at-home parent, to who is responsible for mortgage payments, how marital debt will be paid, to the most widely discussed issue: how the parties’ assets will be distributed in case of divorce or death.

A prenup can be a great way to form deeper bonds of trust and communication, as there will be no surprises financially. Having these difficult discussions may seem like an unnecessary stressor but this allows future spouses to make decisions with a clear and rational headspace, removing the risk of judgment clouded by anger or sadness. Deciding to get a prenuptial agreement doesn’t take away any of the love in a relationship; it simply creates a safety net in the form of a plan should a divorce or other trigger occur.  Since marriage is an economic partnership it should be considered in its entirety just like any other such relationship. No one enters into a contract intending to break it but one always reads the termination clause. 

Prenuptial agreements can also address matters such as spousal support in the event of divorce.  It can address the status of the marital residence when one or both parties decide to leave the marriage. It can help preserve assets for the children of previous relationships in the event of a party’s death.

If these topics are not agreed to, then existing laws will govern these issues.    

If you’re ready to enter into a prenuptial agreement or have questions about the benefits of entering into one, contact us today— Tiveron Law has attorneys who can guide you through a process to come up with a plan that will give a sense of certainty and help couples control their own affairs.