Before getting married, there are many things that the engaged couple may have on their list to accomplish. Much of it will be related to the wedding day or the honeymoon, however, there is another topic that should be discussed and considered. That topic has to do with finances and prenuptial agreements. A prenuptial agreement can be useful for many couples by sparking discussions about finances and determining what is expected of one another, even in terms of what to do if the marriage ends in divorce.
Prenuptial agreements can be drafted to include many topics. One that can be very important to soon-to-be-married couples is the separation of marital property and separate property. These things can be designated prior to marriage to ensure that the assets are mutually exclusive. It doesn’t mean that these assets would change classifications in a divorce, however, it would ensure that there is no change in the event of a divorce.
It may be important to distinguish the responsibilities of one or both parents if children are brought into the marriage from a previous relationship. Debts that only one spouse brings into the marriage should be kept separate, as much as possible, from the other spouse’s debt and credit history. Not all topics can be included in a prenuptial agreement, however.
Just talking about a prenuptial agreement can be healthy and beneficial for the couple. Exploring the options and benefits of prenuptial agreements can lead to discussions that can serve you well in marriage.