Some people think of prenuptial agreements as a couple planning ahead for the failure of their relationship. However, many people now think of prenuptial agreements as a form of insurance.
With roughly half of all marriages ending in divorce, every couple should consider the possibility that it could happen to them. Drafting a prenuptial agreement can help a couple by streamlining their divorce if it does occur and giving both spouses realistic expectations for that divorce.
The process of negotiating a prenuptial agreement can also help you start your marriage out in the best way possible, rather than setting yourself up for failure.
The conversations that lead to your agreement with one another can help the two of you truly know what each of you wants from the marriage. By considering what could go wrong in your marriage, you will be better equipped to handle it when it does. Ironing out related financial issues ahead of time is often simpler than doing it when things have gone wrong.
Although such conversations can be difficult, they can help ensure that you have the same priorities and values in the areas where it matters most to you. The creation of a prenuptial agreement or even a postnuptial agreement during a time of marital hardship can be a way for the two of you to keep things amicable and limit the financial impact of marital issues.
Learning more about what prenuptial agreements can and cannot cover can help you set your marriage off on the right footing.