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Tips for an effective prenuptial agreement

Entering the phase of engagement and marriage is exciting for most couples in North Carolina. However, even in the midst of high emotions and anticipation of a wonderful future, it is important to maintain a level-headed approach to personal finances and assets. For this reason, it may be prudent to have a prenuptial agreement. Since this topic may be awkward, Entrepreneur offers some tips on how to discuss it with a future spouse without damaging the relationship. The most important factor is honest communication between partners. Discussing the possibility of a prenup early in the engagement may ease the tension of bringing it up down the road. Additionally, both partners should have an equal say in what assets they would like to claim, and the agreement should be drafted jointly. Working collaboratively to formulate a plan that works for both makes the agreement feel more neutral, rather than an attack on one partner.

Communication goes beyond discussing each partner's preferences regarding division of assets. According to Forbes, it is important for each person to understand the other spouse's financial situation before getting married. Arranging a prenup may provide the opportunity to discuss previous investments, debts, and even bankruptcies which may not have been revealed otherwise. This way, each spouse may enter the marriage with a greater understanding of the other's history and its possible ramifications on the couple's future.

Prenups are a wise course of action for couples in a variety of circumstances, even those who do not consider themselves wealthy. An effective prenuptial agreement should be made by both partners and put into writing. Having a prenup may also help each spouse to maintain financial independence, because neither has to fear losing the assets outlined in the agreement.

 

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