Should I Get a Prenuptial Agreement?

Getting married is a big decision. If you’re considering marriage, you may have heard the term “prenuptial agreement” (“prenup” for short). In short, a prenup is a legal agreement designed to protect the financial assets of one or both parties in the marriage.

If for example, you’ve invested considerable money in real estate, you may want to sign a prenup with your spouse that delineates what will happen to your assets in the event of a divorce.

Prenuptial agreements are hard to talk about but can give you peace of mind regarding your finances and your spouse’s finances.

Do You Need a Prenup?

Prenups aren’t for everyone. In many cases, these contracts are most helpful for couples with high-net-worth assets, such as real estate, family heirlooms, or money.

The Benefits of a Prenuptial Agreement:

• Prenups help you and your partner talk about finances. Discussing money with your soon-to-be spouse isn’t always easy. A prenup will make sure you and your partner cover your financial bases before you get married.
• Prenups help you and your significant other establish realistic financial expectations for your marriage. It’s important to learn as much as you can about these expectations before you get married instead of after the wedding.

What are the Disadvantages of a Prenuptial Agreement?

Every opinion has two sides. While many couples choose to establish financial expectations for their marriage (and after the marriage), many argue these contracts reflect a variety of bad traits in the relationship. Common arguments against prenuptial agreements are:

• They indicate a lack of trust between partners.
• One or both partners must not be committed.
• The marriage is destined (and expected) to fail.
• Prenups are pessimistic and negative by nature.

Making the Right Decision for Your Marriage

If you and your spouse are talking about a prenuptial agreement, take the time to consider the pros and cons of your decision. If you and your fiancé want to safeguard your financial assets against a potential divorce, the Denver family law lawyers at Modern Family Law can provide the guidance you need.

On the other hand, if your relationship suffers from distrust or negativity, solving these problems may be more important than making a snap decision to sign a legal agreement regarding your assets. For more information about prenuptial agreements, and to see if a prenup is right for you, call our office now.