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Prenuptial Agreements - A Surefire Way to Kill Romance?
The Joys of Weddings - Dresses, Flowers, Music, Cake, and... Prenups?
Nothing says romance like "prenuptial agreement". One can only imagine how many brides have shed tears of excitement and joy at the mention of this legal document.
All joking aside, it is my opinion that prenuptial agreements have not earned the nasty reputation they carry. Yes, there is something less than romantic about preparing for the worst case scenario. However, as an attorney who also prepares wills and trusts, I see very little difference in preparing for your death versus preparing for the end of your marriage. I always counsel my estate planning clients to prepare and plan for the worst case. This is why I recommend Powers of Attorney, Designations of Healthcare Surrogates, and Living Wills (more on these next blog) to go along with their will or trust. A prenuptial agreement is not so different.
They Protect both Husband and Wife!
A prenuptial agreement, if drafted properly will protectboth spouses - not just the husband or wife. It can set very definite parameters regarding the necessary splitting of assets and liabilities and even have some say as to appropriate alimony. This serves to shorten a divorce process that, if not for the prenuptial agreement, would be lengthy and costly. This saves money, heartache, and the nastiness that often accompanies the divorce process.
Find Out How a Prenuptial Agreement Can Protect You
Of course, I wish my clients every success in life and in their marriage. However, I do recognize that the national divorce rate is hovering around fifty percent. Therefore, I fully believe that each couple should have an honest conversation about entering into a prenuptial agreement before they get married. After all, marriage itself is a contract. Unfortunately, it is a contract that leaves out a lot of important terms - such as what happens when the contract ends. A prenuptial agreement, while not the most romantic option, will protect both parties, set appropriate expectations, and let both parties know what to expect if things don't end up working out.
If you'd like to discuss the options available to you through a prenuptial agreement, pleasecontact usto set up a consultation.