If you or your to-be spouse are considering a prenuptial agreement, it is important that you consider the pros and cons. Asking for a prenuptial agreement is a hard enough process. So, it’s important that you make sure before drafting the agreement, that you’ve weighed the importance of it. Everyone has assets they want to protect. But, it’s finding the right way to do so that makes all the difference. Following, we’re going to walk you through a few pro’s and cons of going through with a prenuptial agreement, or prenup. That way, you can make the best decision possible for yourself, and for your impending marriage.
Prenuptial Agreement: Pro’s and Cons
Pro: Financial matters and issues are a part of marriage, you’re just figuring them out early
There will inevitably come a time in your marriage where you have to face the financials. No one likes to do it, but you’ll have to problem solve and handle what comes your way. So, getting a bit of that out of the way ahead of time— isn’t necessarily a bad thing. The setting and idea of a prenup is always a bit more daunting than the actual agreement itself.
Pro: Everyone’s assets are protected, not just the larger of the two
A prenuptial agreement is collaborative. You both likely have assets to protect. Whether those assets be a business, an inheritance, or something of the like. A prenuptial agreement can protect each of those things for both of you. Especially for couples that marry later in life, you each will likely have things that you call your own. It is important to remember that this agreement can be mutually beneficial.
Pro: In the event of a divorce, there is not such a long, hard fought battle
While no one wants to go into their marriage anticipating divorce, in the event of one— a prenup, there is less of a guessing game. No one wants to watch the building they’ve spent their life building, hang in the balance as they go through a divorce. You have worked hard for this— you don’t want it to be called into question. This is one of the main positives when it comes to a prenup— less guess work and less of a threat looming over you. In the event of divorce, some of the toughest stuff— is already set.
Con: A prenup can feel extremely unromantic and mechanical
No one wants to think about the prospects of a failed marriage when things are going well. If your to-be spouse wants a prenup, you might be left feeling sour about it— as if they think you’re ‘in it for the money’. This is why bringing up the agreement in a timely manner is so important— because ultimately, it might be a dealbreaker for some.
Con: It can introduce a lot of resentment
Especially when the other person is not expecting it, introducing a prenup can bring up a lot of emotions. From insult, to hurt, to anger, and beyond, and those emotions can last a lifetime. No one wants to feel as if their spouse doubts them, or their intentions. Introducing a prenup to your potential spouse can make them feel as if you’re expecting less than a lifetime of commitment. It is not hard to understand why this might leave a poor taste in their mouth.
Ultimately, if you need a prenuptial agreement before you go forth— you must find a productive way to introduce the idea. The best piece of advice we can offer, is to cater the message to your spouse. Bring them the idea in a way, highlighting the mutual benefit. We wish you luck in navigating those difficult times.