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Different ways to enter into a prenuptial agreement

Deciding to divorce is anything but pleasant. It is also a time where it can be difficult to navigate the complexities of a couple's life, making it challenging to come to an agreement on who gets what. Because it is well known that divorce can spark disputes and lengthy decision-makings, many couples decide to enter into a prenuptial agreement as a means to address these issues if they decide to divorce following their union.

No one knows what it will be like to divorce, but many can predict what issue will be involved in the dissolution process. Thus, a prenup could outline basic needs and decisions related to most divorces as well as those that are significant to their relationship specifically. Whether you are easily able to enter the prenup drafting process or not, it is important to understand the different ways you could go about drafting a prenuptial agreement.

The first way is through the traditional model. This occurs when one spouse instructed his or her lawyer prior to marriage to draft the agreement. This agreement is then passed on to the other spouse and his or her lawyer. This then initiates the negotiation process. For most couples, this method works for simple financial situations that do not require complex asset and property division.

The second is a collaborative negotiation, which is the emerging trend for prenuptial agreements. Prior to drafting anything, a couple will meet with a lawyer collectively to create a framework for their agreement. Only when both individuals are satisfied with what has been discussed with a prenuptial agreement be drafted.

A third option is to mediate the process. Both spouses are facilitated by a neutral party, helping them reach an agreement while receiving independent legal advice along the way. The final way is known as co-mediation, which is a fairly new model used by couples. This involves two mediators, and is particularly useful for older couples that have children from previous marriages.

No matter how you decide to draft a prenuptial agreement, it is important to understand how you could complete the process and ensure it meets your current and future needs. This could help avoid serious property division issues if a divorce is decided on down the line.

Source: Huffington Post, "4 Ways To Negotiate Your Prenup And Start Marriage On The Right Foot," Nathalie Boutet, Sept. 21, 2017

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