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Do I Really Need a Prenup? Probably, and Here’s Why

Published March 10, 2021
Still wondering whether it’s worth it to get a prenuptial agreement before you walk down the aisle? It’s most likely worth it, especially as the process itself allows you to have open and honest conversations about your financial goals. Talk to an attorney to learn more.

Most aspects of an upcoming marriage are romantic and exciting—the engagement, sharing the news with your friends and family, planning a celebration, and preparing for your new life together. Rarely is drafting and signing a prenuptial agreement (commonly known as a prenup) viewed as a romantic gesture, although, at its core, it is. Prenuptial agreements have historically been somewhat stigmatized, as people assume that only high net worth individuals or couples who assume their marriage will inevitably fail use them. However, this stigma is slowly fading as more couples are exploring the benefits of prenuptial agreements, especially as they actively encourage future spouses to have open and honest conversations with one another, ultimately strengthening their relationship.

Key Benefits of a Prenuptial Agreement

While prenuptial agreements can benefit any couple, there are certain circumstances where a prenup is highly advisable. For instance, couples who are entering into marriage later in life may have independently acquired significant assets, so a prenuptial agreement can protect both parties in the event of a divorce. Prenuptial agreements are also useful for second or third marriages, as there may be children involved whose assets and interests you’ll want to protect. However, many younger couples who are entering into their first marriage still find the process of putting a prenuptial agreement in place to be empowering and reassuring as they begin their new future together.

A Rewarding Process

An added benefit of creating a prenuptial agreement is that the process itself can be enriching and rewarding for couples. As you draft the document, you’ll be asked to disclose the details of your financial situation, including any debts you may have. This opportunity to be honest with one another is a great way to facilitate conversations about your spending habits and financial goals for the future. Many couples find that the process of creating a prenuptial agreement encourages them to have important discussions that they would likely have not had, allowing them to enter into their marriage feeling more connected to one another.

Getting Started

Although there are DIY premarital agreement options out there, financial and legal experts strongly recommend that you do not use them. These one-size-fits-all DIY documents are often generic and vague, often leaving you unprotected in the event that you do get divorced. Instead, it’s worth it to discuss your needs and goals with a knowledgeable family law attorney who can help you create a customized agreement that protects you both equally.

 

Interested in learning more about prenuptial agreements in the greater Portland area? Contact the friendly legal professionals at Lee Tyler Family Law, P.C. at (503) 233-8868 today.

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