New York residents likely spend a lot of time planning their wedding and do not pay enough attention to planning their marriage. And while it is fun to plan a wedding, planning how to divide property in case the marriage ends is neither fun nor romantic. However, in the long run, a prenuptial agreement that outlines how the couple intends to deal with property division in case of a divorce can help couples avoid lengthy disputes.
Prenups as conversation starters
A healthy marriage is one in which couples are open and frank about their future and keep the lines of communication open. When forced to discuss their debt, assets and savings, couples get a chance to disclose where they stand financially. A prenuptial agreement and the ensuing transparent discussion can protect couples having fights in the future over money problems.
Prenups as safety nets
A binding prenuptial can lets the couple decide how they are going to divide their assets and liabilities if they get divorced. This takes the decision out of the court’s hands and lets the couple remain in control of property division. Getting the terms on paper while the couple loves and cares for one another can also ensure the terms are favorable to both parties and can protect parties from additional trauma.
These days, couples are spending years living together and building a life together, both emotionally and financially. A prenuptial agreement can help couples identify what they are bringing into the marriage and what they will entitled to in case of a split. An experienced attorney can ensure couples enter into the agreement knowing what they are signing up for, based on their individual circumstances.