prenups

June is one of the three most popular months for weddings. While most couples spend months planning for their special day and their life beyond, there is one practical tool that frequently gets overlooked – the prenup.

Prenuptial agreements can be very sensitive matters. After all, no one wants to think about divorce when planning their wedding, making prenups the least romantic of all wedding planning topics. For some people, prenups are a consideration only for the wealthy, or worse, a sign of mistrust. Others view these agreements as a necessity for protecting each partner’s personal assets. Whatever your opinion, it’s helpful to fully understand the ins and outs of these contracts before deciding whether they make sense for you. To learn more about prenuptial agreements, common myths pertaining to these contracts, and how to broach this sensitive topic with your partner, read “The ultimate guide to prenuptial agreements: Benefits, myths and tips.”

By now, most people understand that a prenuptial agreement, or prenup, is not something that applies only to the rich and famous. In fact, a prenup can save a lot of time, pain and emotional turmoil for any married couple should their marriage end in divorce. But what is a cohabitation agreement and are the two interchangeable?

Cohabitation agreements are contracts between two individuals who are in a romantic relationship and share the same household. These agreements address a variety of financial, personal and family issues and how they should be dealt with in the event the relationship ends. Although they sound very much like a prenup, there are some basic differences between the two. For one thing, a majority of states have laws that pertain specifically to prenuptial agreements; cohabitation agreements, on the other hand, are governed by general contract law.

To learn more about cohabitation agreements and whether you should consider one, read Money Crashers’ “What Is a Cohabitation Agreement – Why You Need One Before Living Together.”

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