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50 Great Reasons for a Prenup!

Reasons for a prenup

A prenuptial agreement is one of the most effective ways to enhance the intention of a happily ever after marriage. The process of disclosure and negotiation grounds your relationship in trust and reality so romance can thrive!

Many couples feel that the process of sorting through the scenarios inherent in a prenup brought them even closer. In legal terms, a prenuptial agreement acknowledges the status of an economic unit subject to domestic relations, trusts, wills and estates laws.

Consider the following 50 reasons why investing in a prenup is a smart decision:

 

  • The process invites a short and long term goals discussion.
  • You articulate expectations, share dreams and aspirations for the marriage.
  • This promotes an open, honest free exchange of information.
  • It also creates a safe atmosphere to dialogue and handle disputes.
  • Disclosure promotes emotional bonding and attachment
  • As significant life issues are addressed well in advance.
  • Ultimately, pragmatism and romance are wed to co-exist peacefully
  • Because the guidelines and rules for the partnership have been established.
  • You consciously confront and eliminate your biggest concerns.
  • Lifestyles and spending habits are discussed in advance
  • So tolerance for indebtedness becomes transparent.
  • Regarding family, a likely number of children is discussed and
  • “After children are born” scenarios are considered,
  • Including savings, college tuition, and retirement accounts.
  • It is also imperative to disclose assets and liabilities
  • In order to ground the relationship in reality
  • While negotiating in a positive emotional mood.
  • Before marriage you are free to focus on the relationship
  • And establish a precedent for dialogue.
  • This fosters education and knowledge about each other
  • While tailoring state law to fit your life.
  • Eliminating uncertainty and unpredictability
  • Insulates you from your partner’s debts, loans, gambling, credit cards or support obligations
  • Allowing you to keep your debts separate.
  • This promotes flexibility during marriage,
  • Reducing the possibility of divorce.
  • Separate property is stipulated
  • To protect items of sentimental value or anticipated inheritance.
  • Intentionally defining separate and marital property
  • Allows you to maintain independence,
  • Consider your income streams and
  • Be completely flexible in preserving the nature and scope of your assets.
  • You will anticipate death benefits and may
  • Reduce legal fees in the event of litigation of your partner’s family affairs.
  • Contingent scenarios such as aging parents or disabled relative’s issues and costs are anticipated,
  • Just as compensation for career suspension, raising a family or supporting a spouse in professional school.
  • If your assets are being used to guarantee business debts
  • Positioning you or your partner in a high risk financial situation,
  • A prenuptial agreement may avoid the cost of litigation in the event of divorce.
  • This may result in a substantial savings (pre-nup versus cost of divorce ($1/$10-$1000 ratio).
  • Planning and disclosure also encourages estate planning and
  • Avoids public disclosure of personal issues in the event of divorce.
  • The process also promotes cordial relations in the event of divorce, especially if there are children, which,
  • Facilitates ease in transition and recovery.
  • Contractual terms also distinguish active and passive personal property and
  • Protect entrepreneurial interests.
  • Ultimately, a prenuptial agreement encourages constructive communication,
  • Reduces the threat of lawsuit, and offers
  • A litmus test of the relationship.
  • The result: peace of mind that your marriage is off to a great start!
© 2010 by Cindy Hide, LLC. All rights reserved.