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Prenuptial Agreements: More than Just Money?

In most cases, when we hear about couples choosing to pursue prenuptial agreements, we tend to assume the worst. The popular stigma associated with prenups is that they exist only for couples who are likely to lose something by getting married. Most people assume that only the wealthy have prenups and that if one exists, it must indicate that there is a level of distrust between the couple.

Truth to the Myth?

While deception can and does happen in marriages where significant assets or large amounts of money are involved, the truth is there are multiple reasons for choosing a prenuptial agreement. These reasons may stem from the subject of money, but the real roots behind such motivations have much more to do with who that money affects and how, rather than an element of distrust between partners.

Valid Reasons for Considering a Prenuptial Agreement

  • You want to protect the best interest of your other family members - Certain inheritances, trusts, and other savings accounts may affect more than just your wallet, particularly if any of those funds are reserved for or distributed to one or more of your family members. In the event of your divorce;
  • You want to strengthen your communication before the marriage - Arranging a prenup can actually establish a greater level of trust for couples prior to marriage, as it involves a very candid discussion about debts, current financial standing, and future monetary goals. Discussing finances can not only ensure you are both on the same page, it can also strengthen your communication about money long before any financial problems arise within the marriage; and
  • You want to protect your ability to be self-sufficient in the event of a divorce - Think of signing a prenup as a way to plan for the unexpected, not as a sign that you are expecting your marriage to fail. Prenups are practical; the reality is that should things go wrong and your marriage does end, money affects much more than just the numbers in your account. The financial loss can be emotionally and mentally devastating, and it can place your independence and ability to remain self-sufficient after the split at risk.

If you are considering a prenuptial agreement but have questions or concerns before you move forward with the process, contact a reputable, experienced DuPage County prenuptial agreement attorney today. Call Roscich & Martel Law Firm, LLC at (630) 793-6337 for a personalized consultation.

Sources:

http://www.ilga.gov/legislation/ilcs/ilcs3.asp?ActID=2087&

http://time.com/money/4216559/prenup-marriage-wedding-planning/

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