Is A Prenuptial Agreement Right For You? 3 Pros, 3 Cons.

Of all the decisions you make in your adult life, including your occupation and where you will live, marriage may be the most impactful. Marriage is an essential aspect of your identity and daily focus. Besides the social and financial issues that make up a marriage, the legal ramifications are enormous. You are watching out for your future as you look for a lawyer and consider pros and cons of entering into a prenuptial agreement, as follows:

Pros

1. For understanding: In your conversations with a family law attorney about the legal aspects of marriage and a proposed prenuptial agreement, you stand to learn valuable information you might not know otherwise. What do the laws of Arkansas say about separate property, inheritances and retirement accounts where marriage partners are concerned, for example? I am Lori D. Howard, a knowledgeable family law attorney in Benton, and I will discuss these and other issues with you if we talk about pros and cons of a prenup relevant to your situation.

2. For full disclosure: You and your fiancé(e) may believe you have already shared a great deal with each other — but do you know about all your beloved's investments and other assets? Part of the process of creating a prenuptial agreement is disclosing all assets, debts and other key financial information with each other.

3. To prompt negotiations: Prenups mostly have to do with a contract spelling out how assets will be allotted during a marriage and how they would be divided in case of a divorce. Discussions along these lines can be invaluable for establishing a clear understanding of expectations. However, many couples include other details in a prenup such as the planned religious upbringing of future children.

Cons

1. Self-fulfilling prophecy? Many people do not like the idea of talking about the possibility of a divorce. They may even feel that doing so may plant the idea. They fear that a prenup may sow seeds of doubt or disagreement over assets before the marriage even gets off the ground.

2. Trustbuster? When one member of the engaged couple brings up the topic of a prenuptial agreement, sometimes the other feels this translates into a lack of faith about the coming marriage. Whether real or imagined, the threat to trust can make your fiancé or fiancée nervous about the strength of your mutual commitment.

3. No crystal ball? Lifelong marriage encompasses many stages of human development. It is impossible for most people to predict, at the time of marriage, what opportunities or challenges may present themselves over a lifetime. Will your spouse want to return to school for an advanced degree and if so, will you support him or her financially during that rigorous time? Will you or your spouse want to start a business? Does either of you tend to overuse debt? Does one of you tend to be stingy or frugal? Many issues like these come up during a marriage — but they may not be on your mind when you put a prenuptial agreement together.

Explore The Idea Of A Prenuptial

I am attorney Lori D. Howard, and I will gladly share advice about prenups based on years of family law practice. I offer free 30-minute initial case analyses. Call 501-794-6991 to schedule a consultation, or contact me or send an online message to get the conversation started.