6 Reasons Why Prenuptial Agreements are a Good Idea

Asking for a prenuptial agreement, or “prenup” for short, doesn’t sound romantic. Your significant other may question your love since a prenup is a legal agreement which specifies how both parties will divide assets upon divorce.

However, it is wise to discuss such sensitive financial details. Even a person going into a marriage with little assets can benefit from a prenup. As you and your spouse start to accumulate assets during your marriage, it helps to ensure what both of you acquire during marriage isn’t left up to a judge to divide.

The following are the main reasons why prenuptial agreements are a good idea:

  1. Protects your separate property from being involved in property division upon divorce
  2. Defines what property is considered marital or community property
  3. Avoid extended court proceedings, which results in increased attorney fees
  4. Supports your estate plan
  5. Assigns debt to the appropriate spouse to avoid both spouses sharing debt liability
  6. Reduces conflicts during a divorce

While the timing may not be right, making a prenup may actually strengthen your relationship. Communication about money matters can support good communication in your marriage. Even if you do not end up signing a written agreement, speaking honestly about money and property can reduce or eliminate misunderstandings which you may encounter during your marriage.

If you're leaning toward making a prenup and feel ready to consider specifics, contact our Columbus divorce attorney at Grossman Law Offices today.