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What are the benefits of a prenuptial agreement?

On Behalf of | May 31, 2022 | Prenuptial Agreements |

Going through a divorce is difficult for everyone. Some issues pose more common hurdles than others, though. This includes the eventual process of asset division.

One of the ways you can help lower the difficulty of this process is through a prenuptial agreement.

Facing money matters head-on

U.S.News discusses the many benefits associated with prenuptial agreements. Though once stigmatized, more couples today view them as a pragmatic way to ensure that in a worst-case scenario, no one has to start building their lives from the ground up financially speaking.

One of the other pros is that it forces a couple to start talking about money early on. Disagreements and stress about money rank as one of the top reasons that divorce happens in the first place, so understanding one another and how everyone views money, spending, saving, debt and so on can help a lot.

Preparing for what-ifs

Executing a prenuptial agreement will not guarantee that divorce will happen, either. Some may feel paranoid about it or think that this is too much of a negative take, but it is simply planning for a worst-case scenario.

On top of that, prenups can help protect a person’s friends and family. For example, a beloved business partner could end up suffering if a contentious divorce happens between their co-owner and their co-owner’s spouse, who wants a share of the business.

On a whole, couples at a point in their relationship where they can have important and honest conversations no matter how awkward they are will typically have a higher rate of success with prenups and can enjoy the benefits therein.