What are the benefits of crafting a prenuptial agreement?

As your wedding day gets closer, you may have a list of places to go and activities to plan. One of those may be writing out a prenuptial agreement.

Learning about the benefits of this process can help you see why you may want to craft one.

Clarifying your debts and assets

According to Psychology Today, many couples may not discuss what the future of their finances looks like before a wedding. You both may own part of a business or have inheritances sitting in your savings accounts, but never talk about what could happen to those assets in a divorce.

If one spouse has a significant amount more debt than the other one, then this is a chance to clarify that the student loans or other debts are only one person’s responsibility. Not only can this help you both reassess your financial habits, but it can also help you state what is yours in a legally binding way.

Discussing sensitive subjects

It can feel tempting to procrastinate and avoid talking about the possibility of divorce when you are planning for marriage. However, you do not have to frame the conversation in a negative way.

You should instead mention how protecting both your assets and heirlooms is a proactive move in a worst-case scenario you do not expect, especially if you have children from another marriage.

Protecting important items

If you have a particular heirloom you love that you would hate to lose in a divorce, then writing a prenuptial agreement can help you relax. This process allows you to specify what you want staying with you if you split, which also allows you to plan for passing these items down to your children.