If you are considering marriage and are bringing substantial assets or income into the relationship, or have children from a prior relationship, you may be considering whether you should have a prenuptial agreement.
Prenuptial agreements have two main purposes:. one is to define and protect specific assets and income in the event of a divorce, and the other is to make provisions regarding estate planning outside of what would be presumed under law without the prenuptial agreement. Negotiating a prenuptial agreement may take more time than you anticipate, and it is always best to complete it well before the wedding date. Therefore, if you are considering a prenuptial agreement, you should consult with a lawyer before the wedding date is set.
Discussing divorce and detailed financial issues at a time when a couple would prefer to be focused on wedding planning and their new life together can be difficult. Sending proposals back and forth between lawyers is not an ideal way to start a life together. In contrast to typical prenuptial agreement negotiations, negotiating your agreement through the collaborative process can support you and your fiancé through these conversations in a way that lays the groundwork for mutual understanding and successful communication about financial and other difficult issues throughout your marriage.
When you use the Collaborative Law Process for a prenuptial agreement, each prospective spouse will need to engage the support of a collaboratively trained attorney. Depending on the circumstances, you may also jointly engage a mental health coach and a financial neutral. This professional team meets with you and helps you communicate effectively to reach mutually beneficial agreements that reflect your shared values and goals. Unlike typical prenuptial negotiations, which can feel transactional or defensive, the collaborative process encourages you to communicate openly about your finances, expectations, and plans, fosters trust by involving both of you equally in the process, and creates a safe space for you to discuss sensitive topics. Once you agree to terms, the lawyers will draft the prenuptial agreement, and once you and your partner have reviewed and approved it, you will sign it, often with more confidence and understanding than if you had negotiated using a traditional method.
A collaborative prenuptial agreement isn’t just a legal document; it’s a relationship tool, helping you start your marriage with shared goals and shared commitments for your joint future.
