When you are in love, the furthest thing on either of your minds is that the relationship will end. Instead, everything seems perfect at the very moment. You care for one another, finish each other’s sentences, and are committed to one another.
Yet, when your relationship reaches the point where you are getting ready to propose or consider moving in with each other, this is the time to start thinking about some of the reasons to get a prenuptial agreement or cohabitation agreement in place. A cohabitation agreement functions like a prenuptial agreement, except you and your partner are not legally married, yet live in the same household.
Initially, you may want a cohabitation agreement if you will be living together, and then have that agreement modified to become your prenuptial agreement should you become legally married. This is also known as a Marriage Contract.
Reason #1: Protect assets acquired before the relationship.
If you have investments, savings, stocks, bonds, or other such assets, you may wish to protect these if you acquired them before your current relationship. Once you are married, assets may be treated as joint property in certain cases. This means that if you get divorced, your partner could claim a portion of these assets.
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