money, prenup

Prenuptial Agreements – Should We or Shouldn’t We Prenup?

The number one cause for divorce is miscommunication about money – in most cases it is better to “get it all on the table” versus waiting until it is to late.

Some couples wonder, “Are we setting ourselves up for divorce by having a prenup?”

The simple answer is, “No.” There are some very practical reasons to have a prenup in place.

Here are some points to having a positive prenup conversation:

1.  Set a positive tone.

It is important to keep the discussion positive. With this type of conversation it is easy to become defensive. You can open the conversation like this: “I would never want money to come between us and ruin our relationship. Why don’t we explore some reasons to have a prenup. Let’s talk about the positive and negative aspects.”

2.  Write it out.

Be sure to write out the positive and negative aspects to having a prenup. Make sure each person gets an opportunity to add their thoughts to the list.

3.  Avoid the stress.

Once you have agreed upon a prenup take these important steps:

  • Be prepared – set your prenup up a number of months before the wedding – wedding planning can be stressful, be sure have this done and out of the way.
  • List all of your assets and liabilities – this can be a relationship saver because there will be no financial surprises.
  • Set it up to strengthen the relationship – start your relationship out right, clear financial communication is key to making sure your love stays strong.

Remember, no two relationships are the same. Decide what is the best decision FOR YOU and move forward together.

View the Money Couple on ABC’s News Now segment, “Good Money” as they talk about prenuptial agreements and answer viewer questions:

Advice from the Money Couple on prenuptial agreements on ABC's News Now..