You and your significant other plan to get married in the near future, and you do not think you will need a prenuptial agreement. After all, you do not have that many assets yet, and you both have about the same amount of money. You think prenups are just for rich people trying to protect their wealth and keep it from a spouse. Right?
While prenups are very helpful when protecting wealth, that is by no means the only reason to use them. One of the biggest benefits is that it can help a potential divorce go smoothly, no matter how much you own. You get to make those critical decisions in advance.
Making decisions on good terms
A big benefit here is that you and your significant other are in love. You’re on good terms. You care about each other and your relationship.
That makes it easier to talk about splitting up wealth. You are more likely to strive for a division that is fair and equal. You will think about what is best for both of you.
If you wait, you may not be on the best of terms while actually getting divorced. Some couples split up amicably because they both know it is the right choice, but many break up with hard feelings on at least one side.
In those cases, your discussions about dividing assets may not really be about assets. They could be about power. They could be about getting even. They could be about trying to make life harder for your ex because you never wanted to get divorced in the first place — or it could work entirely the other way around.
Moving through divorce
Without a prenup, it can get difficult to move through a divorce. You disagree on what assets are worth. You disagree about who owned what before the marriage. You have to go to court and get a lot of other people involved. Even after rulings come down, you or your ex may still disagree and try to contest those rulings.
It takes a lot longer. It’s a lot more expensive.
The problem is that you are not working together. With a prenup, you are. You’re at a very different place in your life. You can make all of these choices in advance so that there just is not that much to get done during the divorce. Things go quickly, they go smoothly and they cost less overall.
Doesn’t that sound like a vastly better experience? Make sure you know exactly how prenuptial agreements work, how they impact divorce and all of the legal options that you have.