You are in love, engaged and have the perfect ring. What could ever come between true love? Well, unfortunately, some people change and things go wrong. While you may not want to think about the possibility of divorce right now, it is something that may happen down the road.

Because there is a chance you may get a divorce, you may want to talk about finances with your fiance and consider getting a prenuptial agreement. Here are some topics you should address in your prenup. 

How to manage money

It is rare that two people will completely see eye-to-eye when it comes to finances. In fact, you and your partner may have completely different philosophies when it comes to spending and saving. If one of you is a big spender with a lot of credit card debt and the other one is adamant about saving with a substantial 401(k), you may benefit from a prenup.

What you should include

Your prenup can clarify how you will handle financial responsibilities and whether you will keep finances separate as a couple. Here are some things you may want to include in your marital contract:

  • What assets will be personal or marital property
  • Whether either of you will inherit debt from the other person
  • Who will cover the household bills
  • How to manage joint bank accounts
  • Whether to file separate or joint income tax returns
  • How to use credit cards
  • Agreements to set funds aside for savings
  • What will happen to a business either of you owns

These are important issues to address, especially if at least one of you has significant wealth, is expecting to receive an inheritance, have kids from a previous marriage or owns a business.

Not every aspect of your relationship needs to be romantic. Sometimes, you need to talk about the difficult issues to focus on the happier things. You should seriously consider talking to your spouse about the benefits of having a prenup.