Three Important Reasons to Get a Prenup

Sure, prenuptial agreements have become much more popular over the last few years. Couples decide to sign prenups for various reasons, including but not limited to protecting businesses, family gifts, or inheritances.

Having said that, many people still hesitate to get a prenup. But, why? Oftentimes, one-person fears blowback from the other. In other cases, people are scared to reveal financial standings. Regardless of the reason(s), many couples avoid this indispensable step during engagement.

Getting a prenup in Scottsdale is much easier that you think. Let’s look at three logical reasons to sign a prenuptial agreement with your spouse.

You’ll Understand Your Financial Obligations

One of the main functions of a prenup is to solidify financial obligations and payments (this includes both alimony and property settlements). When couples get divorced, their property is essentially split according the state laws under which they reside. A prenup makes those laws inapplicable. Thus, the terms of the prenuptial agreement override the laws of the state since couples can agree on the terms prior to divorce.

For example, if neither one of you want to pay alimony, that can be waived under the terms of the prenup. In addition, a prenup can preserve ownership of a business or other asset. Regardless of the scenario, a prenup will provide you with the confidence that you’ll be protected in divorce.

You’ll Get a Jumpstart on Shared Finances

Negotiating the terms of a prenup allows you and your spouse to strongly think about and consider finances, one of the leading causes of marital stress.

Since a prenup focuses partially on your financial relationship, signing one can, in fact, help you avoid future arguments since all financial information will be disclosed up front. Sure, this may be awkward (initially). However, the sacrifice on the front end is worth avoiding the stress on the back end.

You’ll Understand How to Communicate

Signing a prenup with your spouse allows you to communicate openly and compromise with one another. Together, you’ll discuss the issues being raised in addition to the terms of the agreement. Open and consistent communication will help you avoid surprises and stressful conversations. You will also gain a better understanding of what each other wants and needs. Ultimately, this will bring you closer together.

As you continue to navigate through your engagement, consider signing a prenup to help both of you in the long run. It is both economically and emotionally intelligent.