The benefits of a thoughtful prenuptial agreement

On Behalf of | Jul 26, 2021 | Prenuptial Agreements, Prenuptial Agreements |

While many localities call it a prenuptial agreement, the Florida courts use the term premarital agreement.  For some people, this legal strategy can seem to inject a mercenary approach to a ceremony of love and devotion.

Others, though, see it as a way to strengthen bonds and prevent financial discord.

Several potential benefits

U.S. News &World Report says that a prenuptial agreement has value in preparing couples for the worst-case scenario: the eventual breakup of their union. It represents a simple and mature acknowledgment that divorces do happen and require a division of assets. A prenup often makes this contentious stage easier to navigate.

The process of putting together a prenuptial agreement also makes couples discuss their financial situation. This is true for those in first marriages as well as those in second and third marriages. These discussions can sometimes lead to revealing information about a partner. It can help individuals face such issues as high student debt, high consumer debt, low credit scores and other financial anchors.

One specific advantage

For some people, a prenuptial serves at least one important purpose: it keeps a valuable heirloom or treasure in the family. Sometimes this is something that has significant monetary value, such as jewelry passed down from generation to generation; other times it could include something of sentimental value such as a baseball card collection or even a pet.

If things go bad in the marriage, the prenuptial agreement makes sure these valued items stay with a particular person. While premarital agreements are not for everyone, they do serve many positive purposes.