For many savvy couples these days, especially millennials, careful planning to have the best possible financially protected future together is an important consideration.
With more than 35 years of experience as a psychologically trained divorce attorney and skilled prenuptial agreement strategist, I know for young couples these days these days weddings are not just about the dress, flowers or the cake.
For many of the millennials I speak with about prenuptial agreements, financial health in their marriage is imperative. It’s very important for them to have honest conversations about finances and how money will be managed during the marriage. They want their incomes and savings protected. It’s important to have control over debt and they are looking for a spouse who will respect their family finances.
With the holidays in full bloom lots of couples in love will be talking about engagements, weddings and prenuptial agreements.
I’m already receiving phone calls from smart couples doing their due diligence and they are asking all kinds of great questions about what can be included in their prenuptial agreement.
You may already be dreaming about your dress, the venue, flowers and tasting cake.
But you should also be thinking about securing your financial future and protecting yourself should a divorce occur. Here are my 5 reasons why to consider a prenuptial agreement.
1. It Can Make You Both Stronger
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. Discuss your credit scores, your money styles and how you plan to manage money during the marriage now! Having these conversations beforehand will help build trust.
2. Discussing Financial Matters Can Help You Start on the Right Foot
Almost a third of divorces are the result of financial problems. We know you’ve heard this 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 “'til death do us part.”
Part of your prenup discussion can include discussions about marital roles and obligations of each partner. There is nothing unromantic about smart planning. Learn about how each partner views money and finance.
3. You Acquired Property Before Your Current Relationship
One of the things that I have found is that many couples interested in a prenuptial agreement typically have acquired property or a business prior to starting a relationship with their current partner. This is particularly true with people getting married a second time. Oftentimes, a couple may want to keep some of their property separate, especially if they have children from a previous marriage. 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 death or divorce.
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 prenup can help set those parameters for you. One way to do this is to outline your obligations to each other and define where the lines are in terms of maintaining your own earnings. You don’t need surprises or conflicts about finances after your marriage.
5. Divorce Is Very Expensive and Messy!
Divorces are quite pricey and while we know that nothing can be further from your mind, the reality is that about 50% of marriages in the United States end in divorce.
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 in love and not angry at each other.
If you are planning that romantic engagement or spectacular wedding this holiday season, you may want to plan for a safe financial future too! Call me.
As a prenuptial agreement specialist with more than 35 years’ experience in developing sophisticated documents, I will help protect you should your marriage end in divorce.
I want nothing more than a “happily-ever-after” for you. I also want a fair, financially sound and healthy ending to your marriage if divorce does occur.
A fast turnaround in creating a prenuptial agreement for you is possible if your wedding is just weeks away!
Call now to schedule your free consultation with me! 212.734.1551
Our FREE 1 HOUR CONSULTATIONS are still available virtually!
I look forward to speaking with you.
Warm wishes,
Lois
Call Attorney Lois Brenner Now to Schedule Your FREE Consultation!
212.734.1551