There are a number of compelling arguments in favor of entering into prenuptial agreements.

It is not romantic to propose entering into a premarital agreement, also known as a “prenup” for short. Because a prenuptial agreement is a formal document that outlines how both partners will split their assets in the event of a divorce, your significant other may have doubts about your love for one another.

In the event that efforts to mediate a dispute outside of court are unsuccessful, you may consult with a divorce attorney in Columbus, Ohio about the various legal options.

Nevertheless, it is in everyone’s best interest to talk about such private financial information. A prenuptial agreement can be beneficial for both parties involved in a marriage, even if one of the parties has very few assets. When you and your spouse begin to build up assets during the course of your marriage, it is important to take steps to protect those assets from being subject to the discretion of a court should the question arise as to how those assets should be divided.

The following is a list of the primary justifications for entering into a prenuptial agreement prior to getting married:

  • A safeguard against the inclusion of your personal property in the equitable distribution of marital assets in the event of a divorce.
  • Specifies the kinds of assets that can be held either individually or jointly, as well as those that belong to the community.
  • Avoid protracted court processes if at all possible, as this will result in increasing attorney bills.
  • Supports your estate plan
  • Determines which spouse is responsible for each loan in order to prevent the burden of debt from being shared by both partners.
  • Helps to alleviate tensions that may arise during the divorce process

Even though it might not feel like the perfect time now, drafting a prenuptial agreement could end up being very beneficial to both of you and your relationship. Your ability to communicate well with one another in your marriage can be supported by your ability to communicate clearly about financial matters. Even if you do not wind up signing a legal agreement, being open and honest about money and property during your marriage can help decrease or even eliminate the likelihood of misunderstandings arising between the two of you.