Like most legal agreements, a prenuptial agreement is something you might do to potentially increase your control over a situation. Also similar to many other legal contracts, prenups tend to have some general pros and cons.
The main idea should typically be getting the legal solution that makes sense for your specific situation. Understanding the weaknesses and strengths of a prenuptial agreement could help you make that decision.
The benefits
On the positive side, any potentially effective prenuptial agreement would probably require you to have honest, highly specific conversations about sensitive topics. This could provide several benefits:
- Setting expectations for married life
- Increasing trust between you and your spouse
- Preventing major future disagreements
Some common prenuptial agreement topics, such as the disposition of assets, also tend to become sources of irreconcilable differences within marriages. Discussing these topics ahead of time could help you find common ground for any disagreements before they become so serious that they threaten your relationship.
The challenges
Assuming that you are both ready and willing to have an open discussion about sensitive topics in your upcoming marriage, your major challenge would probably be drafting the agreement. For example, it is typically important to understand the potential legal enforceability of a potential term in your prenup before deciding to include that term.
There are many factors that could contribute to the potential success of your prenuptial agreement. Some of them, such as the willingness of you and your spouse to work together honestly, are independent of the law. Planning for others, such as statutory laws, case law and the discretionary power of the divorce courts, requires expansive knowledge and keen insight.