Many people have likely heard of a prenuptial agreement before. Colloquially known as a prenup, these agreements have existed for quite some time and do couples a lot of good.
Despite the stigma that once surrounded them and continues to persist in some form, prenuptial agreements have numerous benefits.
It makes you have hard money conversations
U.S. News takes a look at benefits associated with prenuptial agreements. One might come as an unexpected benefit: the ability to discuss money and finances.
Financial matters often rise to the top of people’s reasons for getting a divorce. Many discover after tying the knot that their financial lifestyle simply is not compatible with the way their partner views or treats money.
Talking about things via a prenup can actually help couples establish these boundaries and discover these things before jumping into the marriage.
It can reduce the time and money that goes into divorce
If you actually do get a divorce from your partner, having a prenup in place can drastically reduce how much time it takes you to get through a divorce.
For many people, the categorization and division of assets make up the longest and most costly part of the entire process. Having a prenup takes care of that.
It gives you agency
Finally, this not only allows a person to protect their assets in the event of a divorce, but it also puts the power of decision-making in their hands.
In divorce, many people have to leave their assets to the court. But with a prenup, things get decided only by the two involved in the marriage, which is a benefit many love.