June is wedding season and I’m receiving lots of calls from couples asking about prenuptial agreements, so I thought I would share some key reasons to consider having a prenuptial agreement.
Much of the stigma surrounding prenups –prenuptial agreements - has to do with the thought that, by signing this agreement before your marriage, you are planning for a divorce. But that is simply not true! You are preparing and protecting your future.
The truth is prenups can actually make a relationship stronger. It forces couples to set goals and create some guidelines for their marriage. It gives couples their first chance to have a serious and informative conversation.
And remember, prenuptial agreements are not just for the “rich and famous”.
Here are the TOP 5 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 discussions about marital roles and obligations of each partner. There is nothing unromantic about smart planning.
3. 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.
4.) 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.
5.) Planning Your Life in Advance
There is nothing wrong with making plans. 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.
With over 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.
Call me if you have any questions about your prenuptial agreement.
All our FREE 1 HOUR CONSULTATIONS are conducted virtually to reduce risk!
I look forward to hearing all about your wedding plans and guiding you on all the “do’s and dont’s” of a prenuptial agreement.
Stay healthy & safe!
Warm regards,
Lois
Call New York Divorce Lawyer, Lois Brenner now to book your free consultation. 212.734.1551