Prenups have a bad rap, and for couples who are so in love it may seem like a slap in the face to ask their betrothed to agree to a prenup. But what if you took the time to consider the benefits of a prenup? What if you considered what a prenuptial agreement could actually do for your relationship – in a positive way – rather than automatically seeing it as a negative?
Here are just five things to consider that may just change your perception of prenuptial agreements:
1. A prenup forces you to have important money talks early.
Communication is weak in so many relationships. Couples who go to marriage counseling in preparation for their union have the right idea. Talking about the tough stuff before it even arises – which will be necessary when drafting a prenup – is one way to successfully arm yourself with the tools you’ll need to manage difficult situations that will inevitably happen during the course of your marriage. And, chances are, financial woes are sure to be at the top of the “things we always fight about” list. You may never discuss your prenup again, but talking about finances before you tie the knot is a good way to practice your conversations about money for the duration of happily ever after.
2. You don’t have to be wealthy to have a prenup.
Assets are assets, whether you own 10 properties, a trust fund, a $30,000 cabin in the woods, or a classic car that’s been in the family for generations. Prenups are not only for the rich and famous with plenty of extra dough in the bank. You simply have something that you want to protect, and there is nothing wrong with safeguarding it for the future. Maybe the assets you want to insulate are significant to your family tree in some way, or you have a business that you share with someone other than your spouse. Whatever you want to shelter from any potential fracture of your union can happen through a prenuptial agreement.
3. Think of your prenup as an insurance policy.
You buy health insurance, auto insurance, and home insurance. You hope that you never ever have to use any of this insurance, but if you do, it’s there in your time of need. A prenuptial agreement works the same way. You hope your marriage never dies so that you never have to refer to this document, but if your relationship does go south you have protected yourself and your assets legally and clearly. And your spouse already agreed to it. One less thing to argue about during the divorce.
4. A prenup doesn’t have to be focused on money.
There is a new trend in prenups, and that is to create a social media prenup. Social media has become so pervasive and addictive that couples’ unions are suffering because one person can’t seem to stay away from Facebook, Twitter, Instagram, and the like. A social media prenup allows you to set the standards of your relationship and how each of you will behave on your technological devices. Too nitpicky? Maybe, but people are biting.
5. If you do divorce, the tough financial stuff has already been addressed.
No matter what the reason is for your divorce, when you have a prenuptial agreement in place, some of the biggest questions about assets have already been answered, you’ll even have a better idea of the tax burden ahead of you. This clarity can make moving forward far simpler than it might otherwise have been, leaving more room to think logically about important issues like child support and parenting time.
If you’re interested in drafting a Michigan prenuptial agreement, or if you want to figure out how your existing prenup will come into play during your upcoming divorce, contact an experienced Michigan divorce attorney at Femminineo Attorneys in Mt. Clemens, MI, to schedule your no-cost initial interview.