Many couples fear that getting a prenuptial agreement will negatively affect the trust or romance experienced in their relationship. However, a prenup can be a practical solution to help couples deal with the uncomfortable topic of discussing finances. With more than 50% of all marriages ending in divorce, it is a good idea to consider a prenuptial agreement before you get married.
A prenuptial agreement is a signed and notarized contract detailing how a couple will handle the financial aspects of their marriage. In the event of a divorce, a prenup can be used to establish the property and financial rights of each spouse.
Pros of Prenuptial Agreements
Prenuptial agreements can be used to:
- Ensure financial matters are in order
- Preserve family ties & inheritance
- Make financial expectations clear before marriage
- Protect personal & business assets gained before marriage
- Eliminate arguments over assets & finances
Cons of Prenuptial Agreements
Potential drawbacks of prenups include:
- The appearance that trust is lacking between spouses
- They are unromantic & sometimes create friction or resentment between spouses
- They make it seem as though there is not a lifetime commitment between spouses
Things to Consider Before You Sign a Prenup
It is better to discuss a prenuptial agreement early on in the relationship. Do not wait or put it off. It’s also vital that spouses be honest with each other when drawing up their prenuptial agreement. Don’t hide your feelings or assets. Each spouse should hire their own attorney to ensure both individuals have good representation and that no conflict of interest exists.
Sometimes you might not be able to come to an agreement about getting a prenup. One spouse might be completely against it, while the other insists on it. Although this is an unfortunate conflict, it does make clear each partner’s priorities regarding the marriage. Whether or not this is a deal breaker is up to you.
Contact our Altamonte Springs family lawyer, or call (407) 753-4111 if you are thinking of getting a prenuptial agreement. At the Law Office of Russell S. Hershkowitz, L.L.C., we are qualified to negotiate and draft your prenuptial agreement. Let us help you today!