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Family Law Blog

3 Unexpected Benefits of Prenuptial Agreements

Monday, October 05, 2020

If you've reached the point where you and your partner are considering marriage, it's important to take a step back and really look at the life you want to build together. While the goal of marriage might be to last the rest of one's life, that's not always how things work out. While divorce law can be messy and expensive (not to mention personally draining and stressful), a prenuptial agreement can nip proceedings in the bud.

However, there are additional benefits to a prenuptial agreement beyond the obvious.

1. A Prenuptial Agreement Helps You Test Serious Waters

It's hard talking about serious subjects, even with someone you love. A prenuptial agreement is one of those adult conversations, and how you and your partner react to it can say a lot about how you'll handle other issues in your relationship down the road. Acknowledging that you need to be ready for potentially negative circumstances, from serious injury and job loss to end-of-life planning, is important in a long-term relationship, and a prenuptial agreement is often an indication of how well your relationship handles that stress.

2. It Reduces Overall Stress

Even good relationships can only handle so much stress, and though it might seem counterintuitive, prenuptial agreements actually reduce the overall stress on a relationship. As Davidson Fraese points out, nailing down specifics eliminates that "what if?" feeling, and provides concrete answers for many of the questions about your future. Emergencies are much less scary when you already have a plan, and you know what's going to happen in the event that particular emergency happens.

3. It Keeps Business Ownership Separate (As Well As Finances)

When most people think of prenuptial agreements, they tend to think in terms of cash, and maybe property like cars, houses, etc. However, if you own controlling portions of stock, or partial interests in businesses, then your spouse may end up with some of that in a traditional divorce proceeding. So in this case a prenuptial agreement helps keep your business partners and employees clear of potential blow back from a future divorce, as Go Banking Rates points out.

Conclusion

For more information about marriage and divorce, simply contact us today!