While the thought of divorce before the couple has even walked down the aisle may seem confusing, a prenuptial agreement can be beneficial for both parties. Those who have built a business or who have other separate property may wish to protect it. However, Kentucky residents should be ready for friends or family members to question the need for such an arrangement.
One benefit to a prenuptial agreement is that it clarifies which property belongs to an individual and which property belongs to the couple. It will also determine ahead of time what happens to that property if a marriage ends. Ultimately, a prenuptial agreement can create clear expectations about how a couple will manage their future together no matter what happens.
The process of coming to an agreement may be beneficial because it creates financial transparency. It also allows people to learn about and evaluate their own and their partner's attitudes toward money. When a prenuptial agreement is created through a collaborative process such as mediation, it allows each party to communicate their needs directly. This may help create a stronger bond between a couple and increase the odds of a long and successful marriage.
A prenuptial agreement may make it easier to solve issues related to settling a divorce such as who gets spousal support or how property is divided. As an agreement is created before a marriage begins, it is increasingly likely that it will be crafted in a manner that is equitable to both parties. However, each party should have separate legal representation during the process.