One of the greatest advantages of creating a prenuptial agreement with your spouse-to-be resides not in the actual terms you reach in the agreement, but in the process you and your spouse must walk through to create a truly strong agreement together. Prenuptial agreements are useful to many different couples for a variety of reasons, but the ancillary benefits to your relationship can be among the best aspects of the process.
In order to create a strong agreement that is likely to stand up in court, it is important for both you and your future spouse to fully disclose your financial lives to each other. This is discussed as “full and fair disclosure.” The purpose of this is ensure that each party fully understands the scope of the agreement and the terms which they are crafting together. If one or the other party chooses not to fully disclose some aspect of his or her financial life in the process of creating a prenuptial agreement, the agreement itself may not stand up to scrutiny in court.
This may seem overwhelming, but it is actually a truly beautiful opportunity. Many couples enter into marriage without ever taking the time to sit down with each other and fully understand not only each other’s financial standing, but also each other’s financial habits and priorities. It is no secret that disagreements about finances are among the most common causes of divorce. When you and your future spouse create a prenuptial agreement together, you have a great opportunity to face these difficult topics in a safe, neutral environment.
Prenuptial agreements carry an unfair reputation as little more than pre-arranged divorces. However, a strong prenuptial agreement can do wonders to strengthen, not weaken a marriage. If you believe that a prenuptial agreement is a good fit for your relationship, don’t hesitate to reach out to an experienced lawyer who can guide you as you create a document that truly represents and protects your relationship.
Source: Findlaw, “Pros and Cons: Premarital Agreements,” accessed Sep. 08, 2017