Heading Down the Aisle? Bring a Prenuptial Agreement
There are no guarantees that a couple's future will feel like happily ever after, but prenuptial agreements may help couples resolve tough financial issues that sometimes break marriages apart.

May 28, 2011 /24-7PressRelease/ -- In business, partners are advised to discuss critical issues like location, funding and the allocation of assets before launching a new company. Similarly, couples contemplating marriage would essentially become partners running a household and should talk about important issues such as:
- Finances
- Preservation of separate assets
- Funding the household budget
- Provisions in the event of death
- Distribution of assets upon divorce, including maintenance (alimony)

Prenuptial or premarital agreements are contracts that future spouses enter into before getting married. Entering into a prenuptial agreement provides a couple with the opportunity to discuss and make decisions regarding these important matters before any problems arise during the marriage.

Is a Prenuptial Agreement Right for Me?

There is a misconception that prenuptial agreements are only for the wealthy. Contrary to popular belief, prenuptial agreements are entered into by individuals from all walks of life. These agreements function not only to protect assets but also to devise a plan for the management of future earnings, business interests and inheritances. Having a prenuptial agreement also limits the potential for financial or other disputes in the event of divorce.

Planning Tips

Timing is crucial when drafting a prenuptial agreement. It is important that there is sufficient time available before the wedding date to negotiate an agreement that is fair and equitable to both sides. Typically, the process of negotiating and drafting these contracts should begin between 6 and 3 months before the wedding.

Parties should be aware that in most states, each person has to retain a separate and independent attorney of their own choosing. This avoids a conflict of interests and ensures that their rights are fully explained so that they have a full and complete understanding of the consequences of the agreement. Representation by independent counsel provides further assurance that each individual's needs are met and his or her rights are protected.

Because it is sometimes difficult to bring up the subject of a prenuptial agreement to a future spouse, financial advisors suggest using tax season and exchanging tax returns as a basis to start discussions about finances with a future spouse.

Benefits of a Prenuptial Agreement

Considering a prenuptial agreement gives couples who are planning for marriage the opportunity to iron out tough issues that could later lead to the breakdown of a marriage. Although there are no guarantees as to what the future would hold, entering into a prenuptial agreement provides both parties with a level of certainty as to how marital and post-marital finances will be handled.

If you are engaged and want to know more about how both you and your future spouse can benefit from a prenuptial agreement, contact an experienced family law attorney to discuss your state's laws, the drafting process and other important legal and financial matters.

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