Would you enter into a business agreement with someone, even a friend, without having some type of legal agreement between you that specifies the ownership and rights of each individual? Probably not – which is why you should also not enter into a marriage without a prenuptial agreement either. It just makes sense that you both know where you stand, who is bringing what into the relationship, and who gets what in the event things don’t work out. Of course, hopefully you won’t need it!
Many people think this is setting a marriage up for failure from the start, but after seeing so many divorces turn ugly I totally disagree. If you go into a marriage with eyes wide open, everything is out on the table for all to see, right? This is the honest way to do things, in my opinion. Whether either of you own a large amount of assets or not, you don’t know what will happen down the road. Preparing for all possibilities just seems to make sense, from a practical standpoint.
Most couple go into a marriage thinking that things will absolutely work out, and never want to imagine getting a divorce. This is somewhat naïve however, considering that more than half of all marriages in this country end in divorce and many times drain the bank accounts of both parties in the process! We live in a different time than our parents, where people change so drastically over the years that it is almost inevitable that we grow apart from each other in marriage. Is this such a bad thing? The positive side is that it gives us a chance to experience much more in life, and even to grow as a person. Of course a divorce is sometimes painful, but going into a marriage thinking it will last forever is just not realistic any longer. Facing the reality of the situation is a bit more mature in my opinion.
What are the situations that can happen where a prenuptial agreement would be needed? There are so many it boggles the mind – from having a business venture, to getting an inheritance from a rich relative, to having separate accounts set up for children (possibly even a college fund?), to having a windfall in a particular stock fund. The list goes on and on, but you get the picture. There are many financial occurrences that can happen, both good and bad, that may happen during a marriage. What if you suddenly find that your spouse has an addiction to shopping? Would you allow him/her to drag you down and lose everything in a divorce? Most people don’t consider the endless possibilities like this until it’s too late.
In conclusion, I hate to be the one to bear this bad news, but life doesn’t always go as planned. So if you don’t have a backup plan in place you are much more likely to end up in negative situations than if you had one, such as a prenuptial agreement. Get the facts from a good family law attorney and you may save yourself a lot of grief in the case of a divorce.
Why would you risk your financial future, get a prenuptial agreement now. Learn more about prenuptials by visiting:
Prenuptial Agreement Sample