If you are getting married and your future spouse has asked you to sign a prenup, what do you do? Deciding to sign a prenuptial agreement is a very personal decision that should be discussed with your attorney. Men’s Legal Center can help you determine if a prenuptial agreement is the right move for you, as well as review any documents to ensure your interests are fairly represented.
Pros of a Prenuptial Agreement
There are several key benefits to signing a prenuptial agreement including:
- Documenting each partner’s separate property
- Distinguishing between marital and community property
- Documenting and detailing special arrangements
- Reducing conflicts during a divorce proceeding
- Establishing procedures for issues that may arise
- Assigning debt, such as school loans, to the appropriate spouse to avoid spouses sharing debt liability in the future
Because one of the main “irreconcilable differences” leading to divorce is money, it would benefit you to talk with your future spouse about finances, property, and marital asset management for a better financial future together. Even if you do not want to define it in a prenup, discussing finances is a good idea.
Cons of a Prenuptial Agreement
Although prenups do offer many benefits, there are some cons you should consider before signing, including:
- It can be seen as an attack rather than as a form of protection.
- The timing may not be right. If you want to wait, a “postnup” agreement, made after you are married, can be arranged.
- State laws could cover all of the issues without a prenup.
- A prenup does not include child support or child custody issues.
- A court can easily set aside any provisions that are ruled “unfair.”
- One partner may be treated unfairly.
While you may think that a prenup can make a divorce quicker and smoother, you may be surprised to find this is not always the case. A prenup can help with property and debt division, but it will not address issues like child support. In fact, a judge can throw an entire prenup out if they deem it to be unfair.
Signing a prenup is an important decision. You should seriously consider what is in the prenup before signing it. To best accomplish this, speak with a family law attorney, like those at the Men’s Legal Center, for more information. We have the knowledge and skill to ensure that any prenuptial agreement you sign is the right one for your needs.