“Prenuptial Agreement” – Taboo words in a relationship?
Generally when two people are planning for marriage and “happily ever after”, the issues of finances are often not a topic of discussion. Once married, however, finances are often one of the leading (if not the #1) cause of relationship conflict and divorce.
In business, contracts stipulating each partner’s responsibilities and obligations in the event of dissolution are simply standard operating procedure. However, even mentioning the phrases “premarital agreement” or “postmarital agreement” in regards to a marriage partnership is often thought of as “Relationship Suicide”!
In reality, however, Pre & Post Martial Agreements often strengthen relationships by creating an open dialog and agreement between two individuals, setting expectations and responsibilities and eliminating the animosity and fear of “not knowing”….or a potentially “messy” divorce if the relationship doesn’t work out for some reason.
In my practice, I have worked with hundreds of individuals contemplating, going through and coming out of a divorce. Even with a divorce case where all of the assets & debts are clearly “community property’, the property division decisions and options can still be overwhelming and complex to many people (and those decisions will impact them for the rest of their lives!). Add the complexity of second marriages, blended families and individuals who went into a marriage with substantial assets and wealth – you now have a recipe for an even more complicated and potentially messy property settlement fight!
What can Prenuptial and Postnuptial Agreements do for us?
• Protect our separate or premarital property
• Define what is considered community property
• Establish ground rules for future economic matters
• Reduce the time and money involved in a divorce
A Prenuptial or Postnuptial Agreement is about protecting both individuals…..it is not about penalizing, indenturing or controlling either party. A well-drafted and thorough agreement can save everyone untold amounts of stress, anxiety and animosity…and allow them to focus on building a healthier relationship and live “happily ever after”.
For more information about Pre & Post Martial Agreements or any other divorce financial related matter, please contact me! I can help your clients with the financial decisions during and after a divorce.
For more information and details, please call me today at 512-346-6444 or visit us at – www.DMJDivorceFinancialPlanning.com