As the rate of divorce in this country continues to grow, it should no longer be unexpected to have an open discussion with your potential partner in life about signing a prenuptial agreement.
Having this agreement decided upon in advance will give both parties more certainty and protection for most situations on a breakdown of the relationship, and may also govern certain aspects of the relationship.
Here are some things to consider when planning to enter a prenup:
Discuss it early
Being open, honest and timely about getting a prenup can help to remove much of the potential for stress and complications. This gives you and your partner the chance to properly consider the best path to take when preparing for your prenup. If there isn’t enough time to deal with all issues before the wedding a contract may still be entered after the nuptials; in this case, it would be referred to as a marriage contract.
Work together for mutual protection
The goal of a prenup is to give both parties a feeling of security. Take a cooperative approach to the agreement, where your goal is to provide protection rather than to gain an advantage. This is also an opportunity to work together with your lawyers to make sure that you have all of the important points covered for both sides. Working together also means that you may have to make some concessions in certain areas for the benefit of the agreement.
Hire a good lawyer
It’s always better to hire a professional legal advisor rather than miss an important detail and suffer for it. A lawyer will be able to draft or review the document and give you peace of mind that everything is taken care of. When looking for a lawyer you should try to find one who has a similar collaborative mindset and approach as you, rather than one who may see the prenup as an opportunity to “win” a victory for his/her client.
Taking the time to prepare a prenup will give you much more confidence that you can face whatever life has to throw your relationship’s way. It’s simply common sense to devote the necessary time and energy to make sure this document is comprehensive.