A lot of people in Minnesota have false ideas about prenuptial agreements. Most people tend to view prenups as unromantic documents for rich people who think they might get divorced. However, the truth is that having a prenup does not make couples more likely to divorce, and prenups aren’t reserved for the wealthy.
Discussing a prenup can be healthy for a relationship
A family law attorney in California was interviewed about how she viewed prenups after helping engaged couples write them. According to the attorney, her clients who created a prenup before marriage had a divorce rate that was one-tenth of the state’s divorce rate.
Communicating about a prenup can actually be a healthy exercise for couples as it forces them to talk about money early in their relationship. A couple has to be honest about their assets, debts, financial goals and spending habits while writing a prenup. Since fights over money lead to a lot of divorces, early conversations about a prenup can set the stage for a healthier marriage.
A prenup isn’t only about divorce
The agreements that go into a prenup concern more than just how assets should be divided in a divorce. Prenups frequently include provisions about how spouses should spend money during their marriage. Couples may also create agreements about how their premarital assets will be separated or shared during their marriage.
Postnuptial agreements can be more complicated and expensive
If you are considering creating a prenup before getting married, it’s best not to delay. Couples who create postnuptial agreements after marriage have to deal with added complications like defining what the marital property is. Before you actually get married, it’s easier to see who owns what because your assets typically haven’t been intermingled yet.