Yours, mine, ours, the words take on new meaning when you’re getting married — and entirely different new meanings if you’re splitting up. While a lot of couples have gotten engaged and no one can predict their future, many people find that a prenuptial agreement helps increase their security during the marriage, and ease the transition should it end. To others, starting out with a request for a prenuptial it feels like stacking the deck against a happy union. It seems that prenuptial offer predictability and marriage is unpredictable; you are essentially trying to figure out what’s going to happen, and where you will be financially, when you get divorce. A prenuptial agreement can clarify the financial rights and responsibilities of each party during the marriage and the distribution of property in the case of divorce or death. Prenuptial can protect spouses from each other’s debts. They can also spell out how one spouse’s property can be passed on to children from a previous marriage. In addition, a prenuptial agreement can indicate whether one of the parties is to receive alimony.
The conversation about whether or not to have a Prenuptial can be a good entry into a conversation about finances that every couple should have before tying the knot: Who will pay for what? Who will stay home with children? What if someone wants to go back to school? How much of our paychecks will we save for retirement? Money is emotional. How we make it, how much we have, whether we’re spenders or savers, how much debt we have taken on — all of these subjects can be sensitive, which can easily lead people to avoid talking about them at all? Some believe that Prenuptial will secure you financially but will also put strain in your marriage even before you started.