Attorney Katherine E. Stoner is a certified family law specialist, and the co-author, with Shae Irving, of Prenuptial Agreements, states there are a lot of popular misconceptions about prenuptial agreements, so perhaps we can start out with two basic questions:
1.) What is a prenuptial agreement? 2.) How does a couple know when they need one?

A prenuptial agreement can also be called a pre-marital agreement. Sometimes the archaic Latin term “antenuptial agreement” is used, which means “before the nuptials” also meaning before the wedding. A “prenup” as it is called, is a contract between two people who are considering marriage, that sets out an agreements about finances and property.

How do you know if you should have one? Well, if don’t want the laws of your state, or any state that you might live in later, to determine what happening to your property and finances, then you might might wanta prenup. That way you and your partner are in control of your property decisions at all times - not a stranger.

Technically, prenups only go into effect if you marry, according to most state laws. People who don’t marry can sign a cohabitation agreement, or a property agreement of some sort, even if they’re not living together. You could have a combination agreement that was a cohabitation agreement and also qualified as a pre-marital agreement, or a prenuptial agreement. So, it’s possible to sign a cohabitation agreement. Technically, the laws that apply to prenuptial or pre-marital agreements usually provide that it only takes effect when the people marry, and if they don’t marry, it doesn’t have any effect.

Well, at some points the lovebirds are going to have to talk about money. Psychotherapists actually say that the things that married people argue about most are money, kids, and sex, in that order. So, our view is, why not start early having some constructive conversations about money, about your attitudes towards credit and debt.