If you are getting married, chances are you and your partner know just about everything about each other, from your pet peeves to your biggest secrets. However, that doesn't necessarily make it easier to discuss subjects like a prenuptial agreement.
A prenup is a critical planning tool that can provide considerable protection for people in the event of a divorce, but too many people fail to create one because they feel like it is too uncomfortable to talk about with their soon-to-be spouse. If this sounds like your situation, we encourage you to consider a few tips for making prenup discussions a little easier instead of avoiding the subject altogether.
- Give yourselves plenty of time. Don't bring up a prenup the week before your wedding. Talk about it well in advance to allow both parties to thoroughly review the document and make changes. Pushing an agreement through in the days before your wedding can ultimately make the prenup unenforceable.
- Stay focused on the facts. While it can be very difficult to set all emotion aside when talking about individual assets and the possibility of divorce, try to focus on the financial details of the agreement. Remember, too, that having a prenup does not mean that a person does not have faith in a marriage; it means that one or both people want to be prepared for a worst case scenario.
- Collaborate don't dominate. Working together to create your prenup can make this process much kinder than requesting that your partner sign something you created alone. Have open discussions and expect negotiation to be a part of this process.
- Have individual legal representation. If you don't have individual legal representation, then any prenup you create could be challenged later on. Further, working with an attorney can ensure the document you create is fair, properly drafted and legally enforceable.
Whether you are in your 20s with debt and plans to start a business or in your 50s with kids and sizable investments, a prenuptial agreement can be critical in protecting your assets. For additional tips and advice specific to your situation, you would be wise to consult an attorney.