Tips on How to Approach your Fiance about a Prenup Contract
- Author Nick Jones
- Published May 15, 2011
- Word count 334
As the busy summer wedding season approaches, it’s a good time to discuss with your fiancé the benefits of a prenup contract. Prenups oftentimes compel a couple to discuss issues they may not have considered. Is a prenup contract a solution to the many challenges that marriage brings? NO! Yet, the communication and managing of expectations is a great preventive measure against the number one cause of divorce – lack of communication.
Although discussing prenups may seem uncomfortable and unromantic, the following tips will help ensure a productive and mutually beneficial discussion (and, who knows, you may decide against a prenup contract):
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Identify you and your fiancé’s long-term financial goals (including the goals of prior children). Discuss what assets or liabilities you and your fiancé desire to remain separate (such as businesses, investments, prior debt, etc.). Explain to your fiancé that prenup contracts help ensure these goals.
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Discuss your goals relating to children. If children are born, is one party expected to forego their career and raise the children? If so, prenups can provide for various asset distribution concepts if one party foregoes their career.
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Discuss the future planning and cost benefits of a prenup contract. Prenups allow couples to clearly define their goals and avoid ever-changing state law. In addition, prenups offer tremendous savings by allowing couples to avoid costly attorneys fees and judicial litigation in the event of separation.
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Explain to your fiancé that prenup contracts can guarantee certain standards of living and assets (such as a pre-determined amount of alimony and certain residences). It is important to understand that many state laws require the engagement of a prenup attorney if alimony is altered.
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Introduce the concept of a "sunset clause." Sunset clauses are clauses which provide for the termination (or alteration) of your prenup contract after a predetermined date (i.e., your prenup could automatically terminate after five years of marriage).
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Speak with a prenup attorney to obtain more information about the significant and mutual benefits of a prenup contract.
Red Leaf Law suggests engaging a prenup attorney in the drafting and negotiation of your prenup contract.
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