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When to have a prenuptial agreement

A prenuptial agreement may not be a topic that newly engaged couples want to discuss, but it is important. Many people think that prenups are only necessary if someone has a lot of money or is a business owner, but that is not necessarily the case: Prenup agreements are a good idea for couples in all stages of life.

There are numerous benefits of having a prenuptial agreement, and each fiance should think about what they would like to include.

Benefits of having a prenuptial agreement

Protecting personal assets is one of the biggest benefits of having a prenup. U.S. News and World Report also discusses that this agreement is a good idea for those that also have significant debt coming into a marriage, as this prevents splitting of the debt in the event of divorce. It is also a good idea to have a prenup if one of the partners had a prior marriage or has children from a separate relationship.

Prenuptial agreements also tend to be good for women, especially those planning on taking time off to raise children or other family members, as they can ensure the wife receives proper compensation for this time.

The topic of money is one of the main reasons that married couples argue. Discussing a prenup during the engagement is beneficial because it starts conversations around money and debt.

What to include in an agreement discusses that it is important to include future division of debts, money and other assets, but that a prenup can contain other clauses as well. You can address spousal alimony or include a cause that results in a lump sum payment if there is infidelity.

These days, it is also common to include a goodwill clause and a social media clause. A goodwill clause, similar to a gag order, prevents either side from ruining the reputation of the other. A social media clause states that neither party can post embarrassing photos or posts online about the other.

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