Planning an autumn wedding? As your special day draws near, you’re probably feeling a strong mix of emotions. And with all your free time spent planning and prepping, the last thing you and your significant other want to talk about is whether a prenuptial agreement will benefit your marriage.
The truth is prenups help you and your partner take a proactive role in your finances and future together. According to an article in the New York Times, in 2018, prenups increased among millennial couples who saw it as a savvy business decision that protected their own assets.
Although prenups still carry some negative connotations, they also help you establish open, honest communication between you and your loved one.
4 Ways Prenups Can Benefit Your Marriage
- Opens Lines of Communication
When drafting a prenuptial agreement prior to tying the knot, you and your fiancé can sit down and share your future goals with each other. The more honest you are, the greater chance you have of aligning your goals and setting the right expectations—thus avoiding unexpected events or decisions to occur later and disrupt your marriage.
- Helps You Plan Finances
According to a study by Experian, 59% of couples named financial problems as a catalyst for their divorce. Therefore, confronting this issue prior to marriage can help you avoid any unrealistic expectations related to your future financial health and stability. During your initial discussion of finances, be sure to discuss any existing debts and assets, as well as any financial planning goals you may have (e.g. opening a business, traveling abroad, retirement, buying a boat, etc.)
- Protects Both Individuals
If your marriage does end in divorce, a prenuptial agreement can help safeguard both you and your spouse’s future. Drafting an agreement on mutual terms ensures that other feelings or emotions that can influence decisions during a difficult time won’t affect how your assets are divided.
- Reduces Lengthy or Expensive Divorce Proceedings
In the event that you and your spouse divorce on bad terms, having a prenuptial agreement in place will ensure you spend less time, and money, battling it out in court.
Contract Attorneys in the Twin Cities
Before you walk down the aisle, contact KTF Law Firm to learn how to get started with drafting a prenuptial agreement that protects you and your significant other. Our Minneapolis attorneys will help guide you through the process, discuss your concerns, and ensure you both feel confident that your prenup benefits each other today and in the future.