Best way to prevent financial disaster in a Nevada divorce

For many engaged couples in Nevada, the very mention of a prenuptial agreement is enough to send shivers down their spines. Many hold the misconception that discussing the financial matters contained in a prenup is an indicator that the marriage is doomed to end in divorce. This is certainly not the case, and many savvy spouses have turned the matter into a chance to have an open and honest conversation with their soon-to-be-spouse about finances in general.

The act of drafting a prenuptial agreement involves beginning from a place of full financial disclosure between spouses. The process lays out the outline of current income, as well as assets and debts that will be brought into the marriage. By examining these issues at the onset of a marital relationship, couples are better equipped to deal with differences in their approach to finances before they become an item of contention.

Creating a prenuptial agreement also gives couples a chance to discuss shared goals, and how to reach those dreams within a defined period of time. The process gives both parties the chance to express their expectations in regards to how money will be handled within the relationship. Considering a preponderance of evidence to suggest that money troubles are a leading indicator of divorce, this is a great way to get those issues on the table before they lead to struggle.

Nevada couples who are preparing to wed should make every effort to reassess the manner in which they approach prenuptial agreements. These documents offer a wide range of divorce protections to both parties, and can also serve an essential financial planning function. Creating one is far easier than many believe, and is well worth the effort, even if it is never called into service during the course of a long and happy marriage.

Source: The Missourian, How to Ensure Divorce Won???t Wipe You Out Financially, No author, Oct. 7, 2013