Whether it is because of a higher divorce rate, or because people are living longer these days, more are reportedly deciding to sign prenuptial agreements prior to getting married. In addition, it is not just the wealthy that are doing it, a 2015 study says. Even those without substantial assets are signing these premarital contracts. But is it really the right option for your marriage? If so, how do you talk about it with your spouse-to-be? The following provides some important tips, considerations, and strategies for those considering a prenuptial agreement before marriage.
To Prenup or Not to Prenup
Deciding whether or not you should actually craft and sign a prenuptial agreement is an extremely personal decision. If, however, you want to protect your spouse from debt in the event of your death, want to protect your assets in the event of a divorce, have a potential for serious financial gain or loss in the future, or – for those who are so inclined – want to prove you are marrying your spouse for love, and not money, then a prenuptial agreement may be right for you.
Talking to Your Soon-to-Be Spouse
One of the biggest mistakes that individuals make when it comes to prenuptial agreements is not talking about the possibility of one until the very last minute. That can lead to feelings of betrayal, bitterness, and anger – some of which may not have been present, had you discussed the matter sooner. Prenuptial agreements that are signed without a reasonable period of consideration may prove to be unenforceable. So, even if you have not made a solid decision about whether or not you should have a prenuptial agreement, it is important to discuss it with your spouse-to-be as soon as possible.
Taking a Thoughtful Approach to Your Prenuptial Agreement
The need to discuss and set expectations that you can both agree upon further supports the need to discuss the matter with your soon-to-be spouse early on. This thoughtful approach – key in creating a successful agreement – is heavily reliant on effective communication, which is an important cornerstone of a healthy marriage. Thus, the process can actually set a positive tone for the upcoming years you will spend together.
Talk about your goals, your values, and your thoughts about how finances will be handled while you are together. Be open to new ideas, listen and be willing to understand, and avoid interrupting. Most of all, remember to negotiate matters in a loving way and focus on the positive aspects of both your relationship and your decision to create an agreement that benefits you both.
Ready to Draft Your Prenuptial Agreement? Our Attorneys Can Help
Roscich & Martel Law Firm, LLC has been serving couples in the Naperville area since 1973. Skilled and dedicated to helping you and your soon-to-be spouse create a thoughtful and effective prenuptial agreement, we can ensure that all aspects of the law are considered and that you are prepared for the unexpected. To start the process, contact our experienced Naperville, Illinois prenuptial agreement attorneys for a free initial consultation. Call (630) 793-6337 today.