Your wedding day is supposed to be the happiest day of your life. The build up to a wedding involves planning who you want to be there and what role they should play, where the wedding will be hosted, picking out your clothing and a host of other meaningful tasks. Protecting your legal rights may be the last thing on your mind when you’re planning a wedding. However, it may be to your advantage to set aside some time to consider the legal “side” to saying I do.
Traditionally, prenuptial agreements have been given a bad rap, but this is largely due to misconceptions about these legal resources. Having a prenuptial agreement doesn’t mean that you and your partner don’t trust each other. In fact, it shows the opposite as you’ll start your marriage by talking openly about finances and broader expectations.
Many couples find that crafting a prenuptial agreement strengthens their union and prevents tension down the road. However, in the event that you and your future spouse do end up needing to enforce your prenup, having one in place can be to your advantage too.
Protecting your assets
With a prenuptial agreement, you can better protect any assets you have in place, even if you partially comingle them during the course of your union. For example, say that you were running a successful company several years before meeting your partner. This is something you intend to keep on doing. There are assets that you would like to keep separate from your partner, and they also feel the same way about some of their own assets. With a prenup, you can clarify those assets that you would like to be separately owned.
A smoother divorce process
Preparing for the possibility of divorce doesn’t mean that you want it to happen. However, the reality is that many marriages do end this way. Sadly, divorce processes that don’t involve prenuptial agreements often end up involving lengthy court battles. By implementing a prenup, you can save yourself a lot of time, money and stress should the marriage not work out.
There is no harm in being prepared for all scenarios, including divorce. Seeking further legal guidance will help you and your future spouse to learn more about prenuptial agreements.