Society’s general perceptions of prenuptial agreements lead many to resist the idea of signing one. The fact is that prenuptial agreements are beneficial for many couples and offer many benefits for managing expectations in a relationship.
Understanding the truth about some of the prevailing misconceptions can help you decide if a prenuptial agreement suits your relationship.
Prenuptial agreements benefit couples of all financial backgrounds
Most people associate prenuptial agreements with wealthy individuals, those with family wealth and inheritance concerns and those with established and profitable businesses. The agreements offer more value than just governing distribution of wealth, including defining financial responsibilities and setting expectations.
Prenuptial agreements do not represent mistrust
A common misconception about presenting a prenuptial agreement is its representation as a sign of mistrust in a relationship. These contracts actually encourage couples to converse openly and develop a mutual understanding of their financial position, goals and expectations.
Prenuptial agreements do not guarantee divorce
Because prenuptial agreements govern the distribution of assets and the expectations in the event of a divorce, many assume that the expectation of signing one means that your soon-to-be spouse expects divorce eventually. In fact, many agreements include a sunset clause that dissolves the contract after a certain number of years of marriage.
When your significant other mentions a prenuptial agreement, you may resist the idea at first. Understanding the truth about these contracts helps you see how it benefits you as much as your soon-to-be spouse so you can appreciate the value of such an agreement and advocate for your fair interests.