{"id":2183,"date":"2017-01-06T00:00:14","date_gmt":"2017-01-06T00:00:14","guid":{"rendered":"https:\/\/fdfamilylaw.wpenginepowered.com\/?p=2183"},"modified":"2023-04-26T18:20:01","modified_gmt":"2023-04-26T18:20:01","slug":"prenuptial-agreement-benefit","status":"publish","type":"post","link":"https:\/\/fdfamilylaw.com\/prenuptial-agreement-benefit\/","title":{"rendered":"How a Prenuptial Agreement Benefits Both Parties"},"content":{"rendered":"

A Prenuptial Agreement Defined<\/h2>\n

Prenuptial agreements, also referred to as premarital agreements, or, in slang \u201cprenups,\u201d are legally binding contracts.\u00a0 The purpose of \u00a0prenuptial agreements is to outline the intention of the engaged couple, prior to marriage, regarding the division of property and debts, and the assignment of alimony and support.<\/p>\n

Talking About a Prenuptial Agreement Can Improve Your Relationship<\/h2>\n

There are many benefits to discussing a prenuptial agreement before marriage.\u00a0 As a preliminary matter, far too many couples don\u2019t talk about money prior to marriage.\u00a0 According to\u00a0some experts<\/a>, a failure to communicate about financial issues is a leading reason couples divorce.\u00a0 Discussing a prenuptial agreement forces couples to explore their attitudes about money.\u00a0 This includes whether the couple expects to maintain separate accounts, merge their accounts, or some hybrid of both separate and merged accounts.\u00a0 It is also an opportunity to discuss expectations about the potential fair division of assets, should the marriage fail.<\/p>\n

A Prenuptial Agreement Can Provide Peace of Mind for the Family Business<\/h2>\n

Many people who own part of a family business enter into a prenuptial agreement with their partner.\u00a0 With such an agreement, the family doesn\u2019t have to worry about losing the business in the divorce.\u00a0 In addition to potentially losing the business, a divorce could result in splitting the business.\u00a0 A properly written prenuptial agreement prevents this from happening, bringing peace of mind to the family.<\/p>\n

A Prenuptial Agreement Can Protect the Financial Stability of Adult Children<\/h2>\n

Remarriage and blended families are becoming more commonplace all the time.\u00a0 Additionally, remarriage late in life is increasing in popularity.\u00a0 When couples enter into a prenuptial agreement, this frequently eases the mind of the adult children of the parties.\u00a0 A premarital agreement clearly delineates who inherits property owned by each spouse.\u00a0 Prenuptial agreements are legal contracts which trump the ordinary rights of inheritance. \u00a0This secures the financial stability of your children.<\/p>\n

A Prenuptial Agreement Can Save You A Fortune<\/h2>\n

As experienced divorce lawyers, we know prenuptial agreements created while you are both in love and want happiness for each other costs significantly less than an ugly divorce.\u00a0 While it isn\u2019t common, a particularly ugly divorce costs tens of thousands of dollars.\u00a0 A prenuptial agreement addresses almost all the issues couples address when facing a divorce.\u00a0 While child custody remains an issue during dissolution proceedings, the prenuptial agreement addresses the other issues of divorce, including property and debt division, alimony and the like.\u00a0 If you have a valid prenuptial agreement in place, this significantly reduces the cost of your divorce proceedings, as the lawyers have already addressed the majority of the issues.<\/p>\n

A Prenuptial Agreement Reduces Hostility<\/h2>\n

While conscious uncoupling is all the rage, many divorces come with a certain amount of resentment and hostility.\u00a0 The hurt and confusion accompanying many divorce proceedings often leads to petty arguments in an attempt to hurt the other party.\u00a0 Because a prenuptial agreement clearly lays out division of property, the rights and responsibilities of alimony, and debt allocation, divorcing couples have little to any opportunity to engage in disagreements out of hurt or disappointment, or a desire to punish the other party.<\/p>\n

People Who Should Consider Prenuptial Agreements<\/h2>\n