Benefits of Marital Agreements

When entering into marriage, a couple always hopes for the best. Unfortunately the reality is that a high number of marriages will end in divorce. While planning to marry may not want to consider the possibility that their relationship may face dissolution, in the long run it may save them financially and emotionally if the situation occurs. While prenuptials agreements may still be viewed negatively by some people, there are actually many benefits to them.

They are helpful in protecting the financial plan an individual has worked hard to establish and maintain. In the event of a divorce, they can have greater assurance that the assets they have attained will be protected. A home is personal, and losing it can be a devastating experience. Having an agreement with a spouse can help a home owner never have to face this situation.

Another area a marital agreement can be important is for those who own a business. Depending on the state they live in and what the court decides, a spouse that owns a business may have to forfeit some of their ownership rights to their former spouse. Their business may be broken up or they may have to remain in a financial partnership with their former spouse, even after the divorce is finalized.

An agreement also helps to reduce the conflict after a divorce is sought; since the guidelines have already been established, there is less reason to argue. Establishing these guidelines even if divorce is never pursued can also be useful for a couple. Discussing a prenuptial agreement will give them the chance to determine which of their property is considered community, and what counts as separate property. Even just the act of talking about signing a prenuptial agreement can be beneficial for the couple's relationship, since it promotes good communication and encourages them to talk through important issues.

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