Prenuptial agreements are not only about protecting assets

| May 17, 2021 | Family Law |

In the movies, there is much drama surrounding the subject of prenuptial agreements. They portray an awkward conversation about whether one of the characters is marrying the other one for his money. In real life, however, the subject doesn’t have to be awkward or dramatic. It may even put everyone’s mind at ease, including the future in-laws.

After you learn more about prenuptial agreements, you will see that they aren’t just about guarding your assets. They can protect you in other ways, as well.

Premarital debt

These days, it isn’t unusual for someone to come out of college with more than $100,000 in student loan debt, or for other circumstances to leave them with massive credit card debt. If either of those situations describes your future spouse, you may want to be sure that the responsibility for those debts doesn’t follow you if your marriage ends in divorce.

Realistic expectations

Having these discussions and reaching an agreement in advance of your marriage may prevent anger and resentment in the future. By spelling out these terms ahead of time, both partners know what to expect if they decide to leave the marriage.

Benefits

Creating a prenuptial agreement that you are both comfortable with can open an important line of communication in your relationship. In the event you do divorce, the settlement process may be faster less costly.

Though a prenuptial agreement isn’t particularly romantic, the process can bring you closer together as a couple and prevent unwelcome surprises in the future.