How a Prenuptial Agreement Can Benefit Your Marriage

 Posted on June 30, 2020 in Prenuptial and Postnuptial Agreements

Prenuptial agreements are designed to minimize the risk of complications in a divorce, but this is not their only potential benefit. Used correctly, this legal document can also benefit a couple during their marriage. Get the details on how a prenup can benefit (and possibly even strengthen) your marriage, and discover how a seasoned family law attorney can help to smooth the conversation, should you decide to get one before you wed.

1. Prenups Can Bolster Your Marriage Against Money Issues 

Money is the second leading cause of divorce—and not just because one party has it and is trying to control it. Couples may earn close to the same amount but have wildly different views on how money should be spent or saved. As a result, they may argue incessantly over money, which can erode the foundation of their marriage. Alternatively, their financial goals may not align with one another, so the parties may work against one another instead of together toward a common goal. 

When creating a prenuptial agreement, couples typically discuss their financial habits and goals. This allows the parties to predict and potentially strategize against some of the financial issues that may arise over the course of their marriage. It also requires them to compromise and agree on some common financial goals. All this work, painful and stressful as it might seem, can bolster the marriage against money issues later on down the road. 

2. Prenups Can Be Used as a Framework for Your Marital Financial Plan

With goals clearly outlined, you and your spouse can work together to create a marital financial plan. Whether that is working together to build a business, buy a home, or simply ensuring there is a savings account for each shared child, you and your spouse now have a specific goal in mind. The prenup can serve as a framework. 

3. Prenups Provide Financial Accountability 

Prenuptial agreements can do more than serve as a framework in your marital financial plan; they can also be used as an accountability reference, should it ever be necessary. For example, consider the spouse that is spending in ways they agreed were not a part of the plan (i.e. using money that should go into savings), you can gently reference the prenup and remind them of your shared goals. 

Our Wheaton Family Law Attorneys Can Smooth the Prenup Conversation 

Even when you know a prenuptial agreement is in your best interest, it can be difficult to initiate the conversation. Our DuPage County prenuptial agreement attorneys can offer guidance and seasoned legal assistance. Schedule your personalized consultation by calling 630-580-6373 today. 

Source:

https://www.businessinsider.com/how-couples-can-create-a-financial-operating-agreement-for-marriage-2020-6