With more families having two spouses work out of the house, there are more assets and considerations than ever before for couples who choose to end their marriage. Given how common divorce is, especially among people who have been previously married, it makes sense for people getting married to want to protect themselves from the devastation of divorce.
While prenuptial agreements were once relatively rare, they are increasingly popular for a number of reasons. Although you may not have thought about whether or not a prenuptial agreement is right for you and your fiance, the truth is that many relationships will benefit from the creation of one of these documents.
Prenuptial agreements remove the financial incentive for divorce
After years of marriage, life can settle into relative monotony, leaving people to fantasize about a potentially better life as a single person. Given that there is so much unpredictability in the asset division process, it is possible for people to fantasize about wildly skewed and unlikely outcomes to a divorce. They might imagine securing a massive windfall without really considering the laws in Florida, which make it clear that an even split is the more likely outcome.
When you have a prenuptial agreement that outlines how you will split your assets in the event of a divorce, that means that there’s no uncertainty, romance or fantasy involved in asset division or the idea of a divorce. When someone knows what assets they will get, they are less likely to pursue divorce for strictly financial purposes.
Creating a prenuptial agreement lets you know what you want from marriage
A prenuptial agreement will typically outline how you choose to separate your assets in the event of a divorce. It can also protect specific assets by making them separate property and reduce the amount of contention and expense involved in the end of a marriage.
However, a prenuptial agreement can also guide your behavior during a marriage. Spouses can outline their expectations for each other and the marriage itself. When everyone knows the wishes and expectations of one another, it is easier for people to fulfill their social and implied obligations than it would be in other circumstances.
If you divorce, it will be faster and cheaper with a prenup
Provided that the prenuptial agreement you create complies with state laws and meets certain standards, such as a thorough review by attorneys for each party signing, the prenuptial agreement can make the entire divorce process straightforward and uncontested. That can mean that getting a divorce will be much faster and cheaper than it would be otherwise.
While you may not want to think about the end of your marriage right before you commit to one another, executing a prenuptial agreement now means you won’t waste your marital assets on divorcing each other.