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Prenuptial agreement covers more than just assets

Most people believe that prenups are only a preparation for a divorce in the future. However, entering into a prenuptial agreement is not only for safeguarding assets and property, it’s also about proper communication and planning ahead of time. This can help prevent or at least decrease the chances of Alabama couples having bitter arguments in the future.

Prenuptial agreements typically address certain issues pertaining to assets that were held before the marriage and assets that were gained throughout the marriage between both spouses. Also, prenups outline financial obligations, including credit cards and college debt. It’s usually beneficial to couples if they isolate these debts and have discussions about who will be responsible for paying them.

In addition to finances, prenups can also address issues as to how children are to be raised and their religious practices during holidays. While child-related matters may be limited in the courtroom, the judge may take certain matters into consideration and then render their decisions based on the agreement. By having discussions and coming to an agreement before the marriage, couples may be able to identify red flags and what common views they share.

A prenuptial agreement can potentially save a lot of time and money in the long-run for couples. In addition, it can save couples from the daunting task of multiple trips to the courtroom just in case they end up getting divorced. While prenups are great tools, it’s important for soon-to-be Alabama spouses to make sure they enter into legally binding agreements in accordance with state laws.

Source: Business Insider, "Here's Why Every Couple Should Get A Prenup Before Marriage", Libby Kane, Aug. 5, 2014

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