Prenuptial agreements are generally entered into by couples preparing to marry. Among other things, they detail how assets and debts will be divided in the event of a divorce. Often, they're requested by the partner with the greater amount of assets. However, they can be extremely beneficial to the one with fewer assets and/or the one who takes time out from the workforce to raise the couple's children.

However, there are plenty of reasons for unmarried couples to enter into a legal agreement if they begin merging assets or making large purchases together. For example, if an unmarried couple buys a home together (whether they intend to marry or not), a legally-binding document can protect both of them if the relationship ends.

A Home Purchase Prenup

If you draw up a prenup and intend to buy a home together before you tie the knot, your prenup should detail whether that home is marital property or not. Your family law attorneys will likely advise you that you need to consider whose name(s) will be on the title and the mortgage and who will be making the mortgage payments.

If you're getting a mortgage together, that can increase the amount of money you have for a down payment and the income you have to qualify for a loan. This can improve your chances of getting the home of your dreams. However, if you make the purchase before you are married, you both want to ensure that you have the right to consider this home partially your property if you split up or divorce.

A home is the largest single investment that most people will make in a lifetime. If you contribute to the purchase and monthly mortgage payments for a home before you are married (not to mention homeowners association fees and other costs) you want that contribution to be recognized regardless of what happens to the relationship. A family law attorney can advise you of the best way to handle this transaction and help you protect the investment that you have made in your home.