Watching your child grow up and get married can invite a host of emotions for any parent. Some parents feel protective, and perhaps fearful about the major step their son or daughter is taking. This can sound familiar if you are an affluent family or your child has valuable individual assets.
It is only natural for a parent to want to help a child avoid mistakes. However, there is only so much you can do. For instance, you cannot complete a prenuptial agreement for them, despite a reported increase in parents attempting to get involved. You can, however, have a discussion encouraging them to protect themselves — and their assets.
Talking to your child about a prenup
If you want your child to have a prenuptial agreement before getting married, certain approaches will be more effective than others.
Rather than attempting to force your child into creating a prenup, which can strain familial ties, educate him or her on why having this agreement is important. Explain what is at stake. Share examples of others in the family who either have a prenup or failed to create one and faced the consequences.
If your child is concerned about how his or her partner will respond to the idea of a prenup, parents might consider making it clear that they are the ones behind the request. This can take some of the pressure of your child and could prevent some hurt feelings.
However, parents should not attempt to control what is in the prenup if your child agrees to create one. Doing so can undermine your child and make the contract invalid. Instead, help your child connect with an experienced attorney who can help him or her create a valid, appropriate agreement.
Determining if a prenup is even necessary
Again, it is only natural for parents to want to protect a child. And while a prenup may be able to do this to some extent, it is not necessary (or sufficient) in all situations. Before you make any demands or requests, take the time to make sure a prenuptial agreement can actually provide the protection you hope it will.