It’s often a difficult subject to bring up – but in many cases, it’s simply the logical decision. Anyone who is getting married in New Jersey should consider the pros and cons of prenuptial agreements and talk it over with their partner to make sure you don’t overlook this legal option.
A prenuptial agreement is a legally binding document that lays out the division of your assets in the event that you and your partner should get a divorce. This document is also a way of making sure those assets are protected if the marriage does come to an end.
That being said, there are definitely some negative aspects of a prenup that anyone considering this legal option ought to bear in mind. It’s advisable to carefully go over both the advantages and drawbacks so you can accurately weigh the options and decide if it’s the right move for your marriage.
Some of the advantages of this type of marriage contract include:
- Protection for your loved ones
- A less costly divorce
- Freedom to make your own decisions
If you don’t have a clear and official plan for the division of assets, you’re often leaving things in the hands of judges and attorneys in the event of a divorce. One thing that a prenup gives you and your partner is the ability to keep those decisions in your own hands.
The main drawbacks of prenuptial agreements are:
- One spouse may end up getting the better deal
- The process usually involves difficult conversations
It’s difficult to talk about money matters with your fiancé – it’s rarely the most romantic conversation. But this is something you will have to talk about eventually, and setting up a prenuptial agreement pushes the talk to sooner rather than later.