Water explained that marriage is essentially the choice of a contract that your state has designed. A marital agreement is the redesign of this contract to meet the needs and preferences of the couple who are getting married. Although Justin and Hailey are young and in love – and all precautions are taken in the wind – no one with significant assets should follow their example. Here are 10 things everyone should know about marital agreements. In the past, people considered prenupes to be unromantic, insulting and even unlucky, but many now recognize them as preconjuged means of financial and communication. Yes, the main mission of a marriage agreement is to protect the property and interests of both parties in the event of divorce or death. But it`s also a great opportunity for a couple to come to have a serious and honest discussion about money management, sticky issues like debt and financial plans for the future. If you are thinking about asking the question or barely engaged, one of the things you should consider is getting a marital agreement. Whether it`s a good idea or not depends largely on your personal situation.

What may be right for someone else may not be for you. To help you determine if a marriage agreement is right for you and your future spouse, you need to know all about the pros and cons of having an agreement before you tie the knot. Andrew Howie, an experienced family lawyer who helps clients draft marriage contracts, recognizes the benefits of openness and proactivity. “Nobody wants to get sick or hurt, but we always buy health insurance,” Howie says. No one wants to divorce or die, but we should consider the effects of what will happen when death or divorce occurs with your spouse. A marital agreement ensures this peace of mind. Whatever your position, you will certainly benefit from meeting before your wedding and having the same frank and honest conversation about the money, debts and property you would make if you discussed the terms of a legal prenupe agreement. So when does a marriage deal make sense? Here are a few examples: knowing how to enjoy a marriage deal and how not to do it is one thing, but whether you really need it is another thing. Before you have a conversation with your partner, you should know if it`s worth it. Here are some questions you need to ask yourself and your partner to help determine if this is the right call: a marriage contract is a preliminary contract that determines what happens with pre-marital property (such as property) in the event of a marriage or a spouse`s death. Marital agreements certainly require difficult discussions between couples and the subject does not always meet positive reactions.