For a long time, us ladies have shied away from prenuptial agreements, thinking they were something likely to be more of a financial detriment for us. But I can’t stress how much I love a good prenuptial agreement. Here are some stats you need to understand why:

1. Women in Washington, D.C. had the highest median annual earnings in the United States in 2021.

2. A recent University of Chicago study also indicates that marriages with female breadwinners are 50 percent more likely to end in divorce.

So more than ever before, women in our area are making more money than their partners, building savings, owning real estate prior to marriage, and more. A prenuptial agreement should be seen as something helpful to, not hindering, a marriage. It forces couples to have real conversations about financial goals and plans prior to marriage and think about how they want their marriage to work now and down the road when there are changes in the family. You both are making this agreement at the time in your relationship where you are going to be the most in sync with each other, the fairest you will ever be, and that is a good thing. That certainly will not be the case during a separation and divorce. Take the opportunity to really get to know the other party and how your marriage is going to work financially. Financial stress is one of the factors that really pushes couples to divorce, so talking about finances early on is important.

In Virginia, a prenuptial agreement can protect assets that you plan to increase in wealth during your marriage by adding your salary, such as a retirement account, business, or property owned prior to marriage still mortgaged and allow you to keep that asset separate. It can lay out what debts are separate; this is especially important if your partner has come in with debts from some bad habits. It can lay out when and how spousal support might be paid or more retirement might be divided, for example, if one party gives up income to raise children. It can determine how property will be valued and divided in the event of a separation. Depending on your diverse needs and lifestyle, it can be a very simple or complex document, but most are relatively simple (for a legal document.)

I especially recommend a prenuptial agreement for women who: have been married previously, own a business, have high earning potential, come into the marriage with separate assets, are marrying partners with significant debt, or where you and your fiancé have very different views on spending versus saving or other life goals. But really, I generally think they are a good idea for most people. As always, your situation is unique, but ladies, we need to protect ourselves and our financial goals. It’s worth getting some legal advice before you marry and make one of the biggest decisions of your life, especially considering the consult will probably cost less than your wedding hair and makeup but could save you way more in the end.