When you’re planning to get married, the last thing you want to do is prepare an action plan in the event that the relationship ends in divorce. It’s not exactly romantic, and it suggests that your marriage has an expiration date—or does it?
While prenups do cover topics like asset distribution in the event that you go your separate ways, they can also deal with matters that, once discussed and agreed upon, can actually deepen your relationship. Working together to draft a prenuptial agreement allows you to get on the same page with your soon-to-be-spouse when it comes to numerous topics which are important to consider before marriage, but far too many couples fail to discuss. Still, stereotypes and negative perceptions about prenuptial agreements persist, making it even more important to separate fact from fiction on the subject so that you can make an informed decision about this beneficial contract.
Below is a list of three myths and misconceptions about signing a prenuptial agreement, and why they should be disregarded.
- A Prenuptial Agreement Means You Don’t Trust Your Spouse
This is one of the strongest assumptions about any contract governing a marriage. If you ask your spouse to sign one, it means that you don’t trust him or her and want to protect your assets in advance. The truth is that creating a prenuptial agreement can deepen your sense of trust and commitment because financial matters and other touchy subjects are talked about in advance, allowing both of you to have realistic expectations as you embark on your life together.
- A Prenuptial Agreement Means You Expect the Marriage to Fail
Another myth is that a prenuptial agreement is essentially an admission that the marriage will likely fail. On the contrary: a prenup discussion is an investment in the success of your relationship. You will both talk about and agree on important matters like money and parenting values before you get married, helping you avoid fights on the subject later on.
- A Prenuptial Agreement is Something Only Very Wealthy People Need
While it is true that prenuptial agreements were once the domain of the already rich and famous, today many couples should enter into one. You and your spouse can decide for yourselves how your marital property will be shared or divided instead of letting a judge who is unaware of your future goals and mutual understandings make that decision.
While discussing prenuptial agreements can be difficult, don’t let myth-induced fears prevent you from sitting down with your partner and protecting your futures, individually and as a couple. Like vehicle or home insurance, a prenuptial agreement is something you should have in place but hope to never need, and the discussion about its terms can strengthen the foundation of your upcoming union.
For assistance in drafting a prenuptial agreement, contact Freed Marcroft today. We will help you understand your rights and responsibilities and create a contract that will leave you free to focus on your wedding day, not your assets.