When a Northern Virginia couple gets engaged, they are beyond excited. The happy couple will likely spend the next several months planning their upcoming nuptials. Venues need to be visited, caterers booked, dresses tried on, etc. But there are circumstances in which a couple may want to consider creating a prenuptial agreement. Protecting a person’s finances and financial future can be important. There are some benefits to creating a prenuptial agreement that may be beneficial for a couple.
Why a prenuptial agreement may be a good idea
There are many reasons why a couple may consider creating a prenuptial agreement. Some of the benefits include:
- Reducing conflicts in a divorce
- Documenting and protecting each spouse’s separate property
- Avoiding court involvement to decide property distribution if a spouse dies
- Documenting any special arrangements between spouses
- Assigning existing debt to each spouse. This debt can include student loans, credit cards and mortgages
- Opens a line of dialogue between the couple so that they are able to honestly talk about finances
Seek guidance before a difficult discussion
Although a prenuptial agreement may not be a romantic topic for a couple to discuss, it can be important. If a person comes into the marriage with significant assets or debts or children, a prenuptial agreement can make sense. A legal professional who is skilled in family law can help their client create a prenuptial agreement that makes sense for their situation. They can make sure the agreement covers everything and protects a person and their assets. In many situations if a prenuptial agreement is not created it can set a person up for disaster in the future.