Most people associate a prenuptial agreement with wealth or business ownership, for example. However, you do not have to have a lot of assets to benefit from a pre-marriage agreement.
When you understand how a prenuptial works, you can determine whether one would work for you.
You can clarify expectations
Meshing your life with someone else can make marriage difficult and confusing. While it will take time to develop any new relationship, clarifying expectations ahead of time can facilitate success. CNN suggests that you discuss a prenuptial well before marriage, and even before an engagement, if possible.
You can determine responsibility
Financial responsibilities are often a sore spot for many couples, especially those who decide to divorce. A prenuptial allows you a place to determine who will take responsibility for which debts or financial obligations if a split does happen. This is especially important if you or your spouse has significant debt prior to marriage.
You can maintain ownership
If you have assets that you want to maintain ownership of regardless, a prenuptial agreement gives you a place to claim those assets. You can also discuss the distribution of assets to a degree, which can benefit you if you have children from a former relationship.
A prenuptial agreement can add value to your marriage when approached the right way. Having a way to protect your financial well-being can also give you peace of mind about your security in the future. If you anticipate not needing the agreement as your marriage progresses, you can always include a sunset clause which will allow the agreement to expire after a length of time.