There was a time not that long ago when the general consensus about prenuptial agreements was that they indicated that someone wanted to enter a marriage in bad faith. Many people would jump to the conclusion that anyone wanting a contract to discuss what would happen in the event of a divorce expected that their marriage would fail.
However, recent years have seen a reversal of that trend. Millennials and other younger couples often view prenuptial agreements as pragmatic ways to protect themselves from all of the uncertainty involved in a marital relationship, which is one of the reasons why a growing minority of them negotiate prenuptial agreements before tying the knot. These are some of the potential benefits engaged couples often derive from negotiating a prenuptial agreement.
Clarification about personal expectations
One of the most beneficial aspects of negotiating a prenuptial agreement is how the engaged individuals have to talk in depth about what they expect from the marriage. Their contributions to the family and plans for the future will inevitably influence what kind of protection they think they need. Couples who start their relationship out by discussing such matters often have an easier time working together to achieve those long-term goals and are less likely to have uncommunicated and therefore unmet expectations for the relationship.
Faster, less stressful divorce proceedings
No one gets engaged with the expectation that they will divorce, but marriages do end in dissolution quite frequently. It is practical to have certain rules already in place so that the couple won’t have to fight over property division, support and custody matters in family court. The terms set in a prenuptial agreement can determine the outcome of a divorce and may allow people to file for an uncontested divorce that will cost a fraction of litigated divorce proceedings.
The protection of particular assets
Does someone expect to inherit their parents’ home in the next few decades? Do they already run a successful professional practice that they don’t want to put at risk of property division if they divorce? One of the main functions of many prenuptial agreements is to establish certain assets as separate property that will not be subject to division. Each spouse can potentially protect certain property from claims of commingling and the risk of asset division if a divorce occurs.
Engaged individuals who see the value in a prenuptial agreement may become more comfortable discussing such matters with their fiancé. Putting together a prenuptial contract can make people feel more confident about their marriage and less concerned about the possibility of divorce in the future.