Most people assume that prenuptial agreements are for people with great wealth and massive amounts of property. After all, when both parties enter a marriage with substantial financial assets and property, it’s in the interest of both partners to ensure that each person leaves the relationship with everything he or she brought into it. However, that isn’t the only time that a prenuptial agreement may be necessary in the face of a pending marriage. In fact, it’s a good idea to get a prenuptial agreement no matter what either party owns at the time of matrimony. For example, one of the parties may receive an inheritance after the vows are taken. A prenuptial agreement could keep the power to decide how the property is allocated in the hands of the married couple rather than transferring it to a judge.

Some people mistakenly believe that a prenuptial agreement is a sign of distrust or problems within a relationship and pending marriage. However, that is simply not the case, as a prenuptial agreement isn’t a statement that one party or the other can’t be trusted. In fact, working jointly on a prenuptial agreement can be beneficial for a couple, since it allows them to define boundaries and demonstrate respect for one another’s wishes. It also forces both parties involved in the marriage to assess their net value and assets realistically and honestly, which can be helpful in building trust and allaying any suspicion about hidden assets.

Many people assume that prenuptial agreements only specify the distribution of finances in the event of a future divorce. However, many other terms can be stipulated through a prenuptial agreement. Real property, joint bank accounts, debts, spousal support, child custody, child support, and other responsibilities can be defined in a prenuptial agreement. That can take those important decisions out of the hands of a judge and allow both parties in the marriage to retain the ability to make autonomous decisions about their individual futures.