Effective Planning to Protect Your Interests
Taking some time before your wedding to have a frank and honest conversation and create a prenuptial agreement can not only help to protect your future, but it can actually help to strengthen your relationship. Whether it is your first marriage and one of you has significantly more assets than the other, you are remarrying and want to make sure certain assets are preserved for your adult children, or you’re preparing to wed under any number of other circumstances, a prenuptial agreement can be a great tool.
Although the terms commonly outline what each spouse will receive if one predeceases the other or the marriage ends in divorce, prenups can include virtually anything the couple deems important enough to agree upon in advance. Beyond the obvious legal and financial protections, the following are some interesting benefits of prenuptial agreements that you may not have considered:
- Facilitates Honest Communication – When both parties reveal all their financial assets and debts, it becomes necessary to discuss various desires and thoughts about the marriage. For many couples, having this conversation brings them closer together.
- Must Be Agreed to By Both Parties – It is a common misconception that a prenuptial agreement exclusively benefits one party. The reality is that these legal documents can be fair to both parties and indeed can only be entered into if both parties agree to all the terms.
- Facilitates a More Manageable Divorce – If you do end up divorcing, a prenuptial agreement will often make it so that the process is much more manageable as you will already have a plan in place. Streamlining a divorce in this way can significantly lower cost and reduce stress.
Crafting an Effective Prenuptial Agreement
If you are planning on getting married, make sure you discuss how a prenuptial agreement can benefit you. Contact McCracken Kuhn PLLC to discuss your needs today.
