Premarital agreements, also known as prenuptial agreements, have many benefits that you should consider prior to getting married. These benefits aren’t only for the person requesting the prenuptial agreement. Oftentimes, prenuptial agreements can be designed to help both parties protect themselves.
Prenuptial agreements have several benefits that you should be aware of and talk about with your spouse-to-be. Some of the benefits include:
- Allowing you to predetermine spousal support or to waive support if you get a divorce in the future
- Giving you the right to buy, sell, or otherwise control property that is in both of your names
- Creating a property division plan in the case of death, separation, or divorce
There are also some things that you are not able to include in a prenuptial agreement. These include:
- Child support arrangements that adversely affect a child’s right to support
- Any kind of criminal activity or activity that would be against public policy
Some people avoid talking about prenuptial agreements with their partners because they believe that doing so is a sign that they don’t trust the other person or that they need protection in place for their potential divorce.
The reality is that these agreements can benefit both spouses and are worth discussing. If you want to talk to your spouse about having a prenuptial agreement, then it’s important to do so well before your marriage. Give enough time for both of you to come together on a mutually beneficial agreement and for your soon-to-be spouse time to take the agreement to an attorney.
Our website has more on premarital agreements and why you may want one.