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A few things to know before having the prenup talk

Back in late October, we told Little Rock residents about a new survey of family law attorneys that came up with a very interesting finding: prenuptial agreements were (and are) becoming very popular. 63 percent of the attorneys that responded said they saw more prenups in their cases over the last three years.

Now, obviously that means many couples are considering (and signing) these important contracts. Indeed, prenups are crucial documents now. But don’t confuse that statement to mean that every couple needs a prenup. Prenups are great for organizing and clarifying what will happen to certain assets and finances should the couple file for divorce. However, some couples may not want to have a prenup (for a variety of reasons), or they may not have the assets that would spark such a contentious battle should a divorce occur.

Still, couples dealing with the latter set of circumstances should at least consider a prenup. It can legally establish how your assets that are obtained during marriage are split in case of a divorce.

One other thing to consider about prenups is that discussing such a contract should be approached delicately. As these contracts become more and more popular, hopefully the negative stigma attached to prenups will fade as well. However, in the meantime, it is still a tough situation to approach, and you need to have a delicate and well-thought-out discussion with your significant other. Consider many financial issues that affect both of you (not just you), and effectively communicate your feelings while respecting his or her own.

Source: Reuters, “What To Consider Before Asking For A Prenuptial Agreement,” Geoff Williams, Nov. 27, 2013

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