From what I’m hearing as a prenuptial agreement expert, divorce attorney, and mediator, is that couples are not letting the remnants of a global pandemic stand in their way of getting married. Because nothing can stop love, weddings in 2022 are back to pre-pandemic levels and both small and large weddings are blooming!
Since wedding season is around the corner, I’m receiving lots of calls from couples asking about prenuptial agreements. If you are getting married and thinking about a prenuptial agreement, I thought I would share with you some key reasons to consider having a prenuptial agreement.
Here are the TOP 9 REASONS to have a Prenuptial Agreement:
1. It Can Strengthen the Relationship
In order for prenuptial agreements to work, you both have to be completely transparent with one other about your existing financial matters. This means fully disclosing your assets and your debts to one another. Get the difficult conversations out of the way as soon as possible. Trust me, the best time to talk about that maxed out credit card is not after the honeymoon.
2. Avoiding Discussions About Financial Matters Is a Start on the Wrong Foot
Almost a third of divorces are the result of financial problems. We know you’ve heard this one before, so why not address this in advance? The more communicative you are in planning your future together, the more likely that future will be “till death do us part.” Part of your prenuptial discussion will include ideas about marital roles and obligations of each partner. There is nothing unromantic about smart planning.
3. You Acquired Property Before Your Current Relationship
One of the things I have found is that many couples interested in a prenuptial agreement typically have acquired property prior to starting a relationship with their current partner. This is particularly true with people getting married a second time. Often, a couple may want to keep some of their property separate, especially if they have children from a previous relationship. The idea here is that couples would like to see their separate property, or even a certain percentage of it, used for the benefit of their children in the event of a sudden death or divorce.
4. Divorce Is Very Expensive
Divorces are quite pricey (except if you mediate) and while we know that nothing can be further from your mind, the reality is that about 50% of marriages in the U.S. end up this way. Think of your prenuptial agreement as something of an “insurance policy” that will save you both a lot of pain and money by predetermining who gets what at a time when you are not angry at one other.
5. Assurance for Your Children
Second and third marriages are increasingly a common occurrence in the United States. In some cases, children may feel their new step-parent will not honor the same inheritance wishes of their biological parent. A prenuptial agreement sets clear guidelines regarding what a spouse is entitled to, while ensuring your children’s peace of mind that they will be taken care of.
6. Financial Independence
You’re single, you work hard, and you’re probably used to managing your finances. However, during the course of a marriage, you are likely to share certain financial responsibilities together. If maintaining a certain level of financial independence is important to you, a prenuptial agreement can help set those parameters for you. One way to do that is to outline your obligations to each other and define where the lines are in terms of maintaining your own earnings.
7. Planning Your Life in Advance
There is nothing wrong with that. By outlining specifics about your future together, a prenuptial agreement gives you a roadmap to keep you both on track. It also brings the tough decisions to the forefront of your relationship.
8. Keeping a Business on Track
Do you have a business partner or some other significant business interest? A prenuptial agreement can help keep that business intact in the event of an untimely death. That does not mean that your spouse cannot or should not benefit from your hard work, but your agreement will help clarify issues surrounding ownership of the business.
9. Spousal Support
You could end up living a long time, but only be married for a number of years. Should your relationship end in divorce, you want to be financially protected.
With more than 35 years of experience developing prenuptial agreements, I can draft a prenuptial agreement to help prepare and protect you and your spouse for hopefully a lifetime of happiness.
Even if your wedding is right around the corner, don’t hesitate to call me. I can create or review your prenuptial agreement just in time for your wedding!
All our FREE 1-HOUR CONSULTATIONS are conducted virtually to reduce risk.
I look forward to hearing all about your wedding plans and answering all your questions about prenuptial agreements.
Stay healthy and safe!
Warm regards,
Lois
Call New York divorce lawyer and prenuptial agreement specialist Lois Brener now to schedule your free consultation.
212.734.1551