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Prenuptial agreements provide important protection

High net worth couples have substantial financial matters involved in their relationship. When they get married, either party will be personally incentivized to protect their assets and make considerations for the future. This usually comes in the form of a prenuptial agreement, a critical document used in many marriages today. We wrote about prenuptial agreements extensively a couple of months ago.

A prenuptial agreement could help any couple, but it usually benefits people who have a considerable amount of assets and/or assets with tremendous value. 

One of the problems with prenuptial agreements, though, is the way they are perceived. Most people think that a prenup is a contentious contract that only hurts a couple before the spouses walk down the aisle. However, the issues that would be included in a prenup are important for a soon-to-be-married couple to discuss, regardless of whether a prenup is ultimately signed or not.

In addition, prenuptial agreements cover more legal ground than just a divorce. Prenuptial agreements can make considerations for the death of a spouse. They can make considerations for children from a previous relationship or marriage. They can make considerations for family-owned businesses and property that should be protected.

So while prenuptial agreements can be very beneficial for people with many assets, it is also important for everyone to overcome the stigma that prenuptial agreements have. They should not be seen as "marriage breakers." To the contrary, they are important contracts that can have a tremendous influence in both marriage and divorce.

Source: The Wall Street Journal, "Is a Prenup a Must for Most Couples?," March 1, 2015

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Goddard & Malmquist
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