Are Prenups Useful If You Don’t Have Much Money?

Benefits of a Prenuptial Agreement

This is a written contract entered before you get legally married. Also referred to as a prenup, it details finances and assets during marriage and what should happen in case of divorce. There are various reasons why you may consider a prenup, and they include:

Allows for Financial Transparency

You might need to have a clear picture of your fiancée’s income, savings, and debts. You might also need to know the liabilities and assets. A prenup will put all these clear, and as you get into marriage, you will manage your expectations of each other.

Helps in Making Financial Plans

A prenup will force you and your fiancée to discuss whether you will be handling money separately or together. You will agree if you will have a joint account or each will have their own account. You will also decide if you will have an account to save for a home, holidays, or even retirement and how you will pay your bills.

Allows You to Discuss Assets

You will discuss any assets you have before marriage and those you may acquire during the marriage. You can agree if your assets before marriage will be jointly owned after marriage or each partner will keep assets acquired before marriage separately. You will also discuss if you are expecting to inherit any assets from your relatives in the near future. Where you get such assets in the future, the prenup should lay out clearly how you will handle them.

Allows for Debt Awareness

If one or both of you have debts before marriage, you will discuss how to handle them. You will also agree if one partner is protected from actions arising from a debt acquired before marriage. You should disclose to your fiancée in case you have a huge debt that may hinder development during your union.


A prenup allows you to discuss if you want children and also the number. You can also decide how you will handle the responsibility of those children. Some couples may choose not to have children, while others may want kids. You can also discuss what happens to the children in the event you get divorced.


You will get to discuss how you will treat each other during the process of divorce. It would help if you also discussed debts, assets, and savings you will have acquired during the marriage. If you had joint responsibilities during marriage, discuss their fate in case of divorce and how you will live during the divorce process. Who should move out of the house, and the main reasons that may lead to a divorce.

You should explore all aspects and decide what to put in the prenup. A prenup should be embraced by all whether they have money or not. An open discussion during prenup brings the couple closers as they get to know more about the other. It is not always about money but trying to be transparent with your partner so that you can learn as much as possible about each other.

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