One of the most difficult parts of a prenuptial agreement, or even a postnuptial agreement for that matter, may simply be getting started. Some of us grew up in an era when pre and postnuptial agreements were viewed as something for only the rich and famous. Others viewed them as a sign of mistrust or a lack of devotion or commitment. Thankfully, those days are moving past us. We are discovering that we can still be in a loving partnership while still having our own financial assets and goals to protect. We are grasping that no matter how deep our commitment, life happens. We are beginning to understand that practicality plays a vital role in marriage.
If the thought of a prenuptial agreement has crossed your mind, but you haven’t moved forward, here are some steps to getting started.
Have the Discussion
At some point in your relationship, you have probably had discussions about critical subjects like religion, having children, and politics. You may have even talked about who was going to be in your wedding and what type of wedding you want. Having a discussion about a prenuptial agreement shouldn’t be that difficult.
Gather Your Financial Information
Compile a list of financial assets and debts. Include credit cards, car payments, consumer loans, student loans, and other obligations. Compile your total savings, life insurance values, investments, real estate, retirement accounts, and inheritances. Each person in the marriage will have a pre-marriage net worth.
Find an Attorney Right for You
This may not even be an attorney you have used before. Find a lawyer experienced in prenuptial agreements. Have a discussion about what can and what should be “on the table.”
Keep in mind that a prenuptial agreement doesn’t have to be a good deal for both parties, but to hold up, it must be agreed to without duress or coercion. Financial transparency is important. A poorly crafted prenuptial agreement or postnuptial agreement may not hold up in a court of law. There is no sense in creating such an agreement. This is the time to be caring, fair, and practical. With that being said, there’s nothing wrong with knowing your rights and working to protect them.
Getting started on your prenup is easier than it may seem. Start by having an important discussion with your fiancé. Gather your individual financial information and tax records. Find an attorney whom you feel comfortable with and who has prior experience with prenups. Decide what’s important for you financially and what is equitable and honest. Make sure each of you has representation who can provide any last-minute guidance or suggestions, and sign the agreement.
Many couples discover that having a prenup adds a certain level of confidence and peace of mind to their marriage rather than distracting from it.
If you have questions about creating a prenuptial or postnuptial agreement, we encourage you to reach out to us. We will even offer an initial consultation at no cost.
Move forward in your marriage with confidence. Reach out to us today.
If you have questions about a prenup agreement or a postnup agreement or require legal assistance in other areas of Family Law such as high asset divorce you may always contact Damien McKinney of The McKinney Law Group to discuss your case further. He can be reached by phone at 813-428-3400 or by e-mail at [email protected].
We now offer virtual prenuptial agreements. Contact us to inquire further about our virtual prenup option.