Resolution Through Negotiation

Family law and child custody representation in Minnesota's Twin Cities.

The importance of prenuptial agreements

On Behalf of | Sep 21, 2016 | Divorce |

Before couples in Minnesota say “I Do,” they should take some time to plan out their prenuptial agreement. No one really likes to think about separations and divorce when they are in the process of getting married and making decisions about how they will spend the rest of their lives with their significant others. However, doing so can offer them some protection from the ravaging consequences of divorce should they separate from their soon-to-be spouse and things get ugly.

According to Business Insider, couples should want to know how their partners will act if their marriage were to end. Learning what are deal breakers and what things they have in common can help to shed some light on their partners’ personalities and potential actions. It is much harder for couples to make sound decisions regarding financial matters when they harbor negative feelings about each other and are in the process of splitting up and turning any assets or advantages they have into power struggles. Although a prenuptial contract may be amended with a postnuptial agreement, couples should keep in mind that any agreements that are entered into with a prenuptial agreement are legally binding.

Couples who are getting married should be eager to discuss their financial situation, states Once marriage has occurred, the financial situations of both partners change because the lines between ownership and liability become complicated and are hard to differentiate.

As unromantic as prenuptial agreements are, they can mean the difference between spouses divorcing and ending up with significantly more liabilities and losses than they had when they entered into their marriage.