Despite the fact that as many as half of all marriages end in divorce and many of these divorces seem to end in a financial or legal nightmare, many Americans still haven’t bothered to learn the truth about prenuptial agreement. Many see prenuptial agreement as something that wealthy people do to protect themselves from frivolous relationships that are doomed to fail. They’re wrong. Here is a look at ways that prenuptial agreement can help regular Americans.
The Truth about Prenuptial Agreement:
- It’s NOT a sign of poor faith in the relationship: One of the most common myths about prenups is that it means you don’t believe in your relationship. It’s better to think of them like life insurance. If you buy life insurance for you husband, it doesn’t mean you are planning on something happening to him. It simply means that you want to protect the family if the worst case scenario happens. A prenup is like insurance for a marriage.
- It protects your kids: If you have children from a previous relationship, a prenuptial agreement is how you can protect certain possessions for their future. Whether it’s a watch that belonged to their grandfather or savings for their college education, it’s important to protect certain assets for your children in the event that you get a divorce. No matter what happens, you can ensure your children are taken care of.
- It’s a great sign you can talk about money like adults: Whether or not you decide to get a prenup, the ability to have honest and mature conversations about money can be a crucial part of a successful marriage. Having an honest talk about a prenup can be the start of a strong partnership, where neither spouse is afraid to go to the other for help handling uncomfortable financial challenges.
- It settles important issues during a time of love and goodwill: Divorce is stressful. Many people will try to handle things civilly, but it can be harder than you expect to ensure things don’t end in a tough place. If you love your partner, a prenuptial agreement can be a way to decide what is fair during a time when you are both on excellent terms with one another. You are much more likely to treat each other kindly now than during a potential separation.
Like other financial issues, prenuptial agreements aren’t exactly romantic. Americans need to get past the stigma, however, and realize that this is just another financial document. It has nothing to do with the quality of your marriage. Developing the skills to collaborate on issues like this can actually be a healthy thing for the relationship.
Julian, Crowder and Shuster is a firm of Lewisville divorce lawyers with the expertise to help their clients navigate through the difficulties of divorce.