Can prenups strengthen a marriage?

On Behalf of | Jun 12, 2024 | DIVORCE - Prenuptial Agreements |

According to a recent American Academy of Matrimonial Lawyers survey, over 62% of divorce attorneys in America have observed an increase in clients requesting prenuptial agreements. This notable rise reflects a growing recognition among couples of the benefits that clear financial agreements can provide as they prepare for their future together.

Many people think that prenuptial agreements are only for the wealthy looking to protect their assets as they prepare to get married. In reality, a prenup is a crucial tool that can help any engaged couple set clear financial responsibilities and expectations before they tie the knot. As you stand on the cusp of married life, prenups can be your first step toward ensuring you and your partner have aligned financial understandings and goals.

Identify your financial goals and responsibilities

As you enter into a marriage, it is essential to clearly identify and communicate your financial goals and responsibilities with your partner. This is where a prenup can come into play, allowing you to put your plans and agreements into an official document.

Here, you can outline everyday financial responsibilities, decide how you will share your income and agree on how to handle debts from before or during your marriage. This way, both of you know exactly what to expect and can work together toward common goals.

Regularly review and adjust your plan

It is advisable for couples to review their financial status and prenuptial agreements periodically – perhaps annually or when significant life events occur, such as the birth of a child or a change in employment. This routine check-in ensures that your financial arrangements still make sense for your life at present, keeping everything fair and up-to-date.

Remember, a prenup is not just about protecting your assets in case of a divorce; it is also a platform for honest dialogue and mutual understanding. Openly discussing your expectations and responsibilities with your partner can be the foundation of a strong and enduring marriage. When drafting your prenup, you might want to consider enlisting legal expertise to help you ensure you cover all bases and protect your rights.