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The talk: prenup conversation can benefit couples

Drafting and signing a prenuptial agreement is not a process that comes quickly or lightly. One of the great benefits of the prenup, besides the legal protections it grants to the married couple, is the conversation the spouses have to begin the whole process. They get to talk about important financial topics and other critical factors in their relationship that may not be addressed (at least not fully) had the couple decided to avoid a prenuptial agreement.

That conversation may lead a couple to sign a prenup, or it may not. How should a couple decide whether a prenup is right for them? Ultimately it is their choice, but here are a few things to consider:

  • A prenup goes a long way in separating the property of the two spouses, establishing legal protection in case of a divorce. If you and your spouse have significant assets, then a prenuptial agreement will certainly be an option that you will want to consider.
  • Prenups generally reduce the amount of time you have to spend dealing with attorneys, courts and other legal proceedings in case of a divorce.
  • A prenup is a contract, and it can document many other arrangements besides just financial factors and property division. However, you may not include anything in the prenup that addresses child custody or child support. 

If you are considering a prenuptial agreement, or you are getting a divorce and are looking to have your prenup enforced properly, you should consult with an attorney as soon as possible.

Source: FindLaw, "How to Determine if a Prenuptial Agreement is Right for You," Accessed Dec. 12, 2016

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