There are many things to think about when creating a prenuptial agreement. From the start, you need to make a list of the pros and cons as they pertain to your relationship.
While there are many benefits of creating a prenuptial agreement, such as the ability to protect assets that you bring into a marriage, there's something you need to remember: There are potential drawbacks as well.
Here are some of the drawbacks you need to keep in mind:
- You may give up some or all of your inheritance rights when your spouse passes on.
- It can be a challenge to create a prenuptial agreement, as you don't know exactly what will happen in the future.
- In the early stages of a relationship, one spouse may agree to a prenuptial agreement that is not in his or her best interest. They often do so because they are concerned about angering the other person.
Along with the above, there's something else to think about: the act of discussing a prenuptial agreement. It can be a challenge to bring this to light, as you don't want to upset your fiancé at a critical point in your relationship.
Generally speaking, most people find that the benefits of a prenuptial agreement outweigh any potential drawbacks. While this may be true, you still need to review the pros and cons to ensure that you are making the right decision.
If you decide that a prenuptial agreement is a good idea, don't waste any time discussing this with your partner and beginning the creation process.
Source: FindLaw, "Pros and Cons: Premarital Agreements ("Prenuptials")," accessed Aug. 21, 2017